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November 15, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Borrego Springs, Business Loans > Borrego Springs Bank Borrego Springs Business Loans > General Automotive Repair Loan | ||||
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Raising Money in Hayward, California With SBA Loans
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How to Get a Loan for General Automotive RepairLooking for business loans for general automotive repair? The SBA may be the answer. This $100,000 general automotive repair loan was issued by a California bank. This small business knew how to go about getting a business bank loan. Based in Hayward, California, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Borrego Springs Bank, based in Borrego Springs, California. SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SBA Loan Lender BORREGO SPRINGS BANK This lender provides SBA guaranteed business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811111 - General Automotive Repair Loan Approval Date 5/21/2003 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower indicated that the loan would help retain 4 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. We can help you find the best banks for small businesses in Hayward or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Best Banks for Small Business in Borrego Springs, California
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