Bank Loans for Motor Vehicle Dealers

With these bank loans for motor vehicle dealers, the SBA guarantees the lender that the loan will be repaid. This motor vehicle dealers loan for $370,000 was given to a California entrepreneur in 2002.

This company knew how to go about getting a business bank loan. Based in Grand Terrace, California, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Inland Commun Bank, based in Rialto, California.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE DEALERS
GRAND TERRACE, CA 92313

SBA Loan Lender

INLAND COMMUN BANK
255 S RIVERSIDE AVE
RIALTO, CA 92376

This lender issued this SBA loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

441229 - Motor Vehicle Dealers

Loan Approval Date

11/21/2002

Loan Approval Gross Amount

$370,000

Loan Approval from the SBA

Of the total $370,000 loan amount, the SBA guaranteed $277,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 38 employees. The loan application did not indicate that the SBA funding recipient planned to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Inland Commun Bank and they will explain how you can get an SBA loan for your company.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

Angel Investors

Banks in Rialto, California

Find an SBA Lender in California