California Bank Loan Issued to Motor Vehicle Towing Company

Would a California bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this California bank, which offers SBA loans to California entrepreneurs.

Getting a small business loan in Lake Elsinore, California was a top priority for this loan applicant back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Commerce National Bank. Here are the details on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE TOWING
LAKE ELSINORE, CA 92530

SBA Loan Lender

COMMERCE NATIONAL BANK
279 E ORANGETHORPE AVE
FULLERTON, CA 92832

This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

488410 - Motor Vehicle Towing

Loan Approval Date

8/3/2007

Loan Approval Gross Amount

$2,000,000

Loan Approval from the SBA

Of the total $2,000,000 loan amount, the SBA guaranteed $1,500,000.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 20 employees. The SBA loan application for the borrower indicated that the loan would help retain 20 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

This SBA loan was for $2,000,000. How would you spend $2,000,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

504 Loans

SBA Participating Banks in Fullerton, California

SBA California Banks