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November 15, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Los Angeles, Business Loans > Nara Bank Los Angeles Business Loans > Motor Vehicle Supplies And New Parts Merchant Wholesalers Loan | ||||
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We Needed a Business Loan in Hayward, California and We Got One!
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Where to Get Capital for Motor Vehicle Supplies and New Parts Merchant WholesalersWith these SBA loans for motor vehicle supplies and new parts merchant wholesalers, the SBA guarantees the lender that the loan will be repaid. This motor vehicle supplies and new parts merchant wholesalers loan for $617,000 was given to a California entrepreneur in 2007. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Hayward, California was able to borrow $617,000 from Nara Bank. The SBA made the loan possible by guaranteeing $462,750 of this California small business loan. SBA Loan Borrower COMPANY TYPE: MOTOR VEHICLE SUPPLIES AND NEW PARTS MERCHANT WHOLESALERS SBA Loan Lender NARA BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 423120 - Motor Vehicle Supplies and New Parts Merchant Wholesalers Loan Approval Date 12/18/2007 Loan Approval Gross Amount $617,000 Loan Approval from the SBA Of the total $617,000 loan amount, the SBA guaranteed $462,750. 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 9 employees. The SBA loan documents indicated that the loan would help retain 9 existing jobs. Start the Process for Getting an SBA Loan Today! For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: SBA Banks in Los Angeles, California
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