Financing for Used Car Dealers

With these commercial loans for used car dealers, the SBA guarantees the lender that the loan will be repaid. This used car dealers loan for $630,200 was given to a California entrepreneur in 2001.

Getting a small business loan in Hesperia, California was important for this small business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Wells Fargo Bank, operating out of Orange, California. Here are the details on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: USED CAR DEALERS
HESPERIA, CA 92345

SBA Loan Lender

WELLS FARGO BANK
170 S MAIN ST
ORANGE, CA 92868

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

441120 - Used Car Dealers

Loan Approval Date

9/7/2001

Loan Approval Gross Amount

$630,200

Loan Approval from the SBA

Of the total $630,200 loan amount, the SBA guaranteed $472,650.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 5 existing jobs.

Getting an SBA Loan For Your 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 Hesperia 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:

Accountant's Role in Securing Financing

SBA 7A Banks in Orange, California

Where to Get an SBA Loan California