New Car Dealers Small Business Loans

With these small business loans for new car dealers, the SBA guarantees the lender that the loan will be repaid. This new car dealers loan for $122,600 was given to a California entrepreneur in 2000.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Lancaster, California was able to borrow $122,600 from East West Bank, A Division Of. The SBA made the loan possible by guaranteeing $91,950 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE DEALERS
LANCASTER, CA 93534

SBA Loan Lender

EAST WEST BANK, A DIVISION OF
12530 HESPERIA RD, STE 101
VICTORVILLE, CA 92392

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.

SIC Code

5511 - Motor Vehicle Dealers

NAICS Code

441110 - New Car Dealers

Loan Approval Date

9/26/2000

Loan Approval Gross Amount

$122,600

Loan Approval from the SBA

Of the total $122,600 loan amount, the SBA guaranteed $91,950.

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 3 employees. This SBA loan request indicated that the loan would help retain 3 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.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $122,600 loan. Remember, you control your own destiny.

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.

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