Borrowing Money for Automotive Transmission Repair
Looking for bank loans for automotive transmission repair? An SBA loan may be just what you've been looking for. This $310,500 automotive transmission repair loan was issued by a California bank.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Los Angeles, California was able to borrow $310,500 from Center Bank. The SBA made the loan possible by guaranteeing $232,875 of this California small business loan.
SBA Loan Borrower
COMPANY TYPE: AUTOMOTIVE TRANSMISSION REPAIR
LOS ANGELES, CA 90026
SBA Loan Lender
CENTER BANK
3435 WILSHIRE BLVD, STE 700
LOS ANGELES, CA 90010
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
811113 - Automotive Transmission Repair
Loan Approval Date
3/29/2002
Loan Approval Gross Amount
$310,500
Loan Approval from the SBA
Of the total $310,500 loan amount, the SBA guaranteed $232,875.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company
had 3 employees. The SBA loan documents indicated that the loan would help retain 3 existing jobs.
Getting an SBA Loan For Your 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 $310,500. How would you spend $310,500 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.
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