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November 14, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Buena Park, Business Loans > Uniti Bank Buena Park Business Loans > General Automotive Repair Loan | ||||
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Business Loans for Los Angeles Entrepreneurs
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General Automotive Repair LoansLooking for loans for general automotive repair? The SBA may be the answer. This $1,160,000 general automotive repair loan was issued by a California bank. This small firm received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Uniti Bank, out of Buena Park, California. The loan was granted and they received $1,160,000 to help grow their Los Angeles, California business. SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SBA Loan Lender UNITI BANK 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 811111 - General Automotive Repair Loan Approval Date 9/20/2004 Loan Approval Gross Amount $1,160,000 Loan Approval from the SBA Of the total $1,160,000 loan amount, the SBA guaranteed $870,000. 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 4 employees. The loan application indicated that the loan would help generate 1 new job and retain 5 existing jobs. Start the Process for Getting an SBA Loan Today! 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. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Uniti Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Advice on Getting a Small Business Loan SBA 7A Banks in Buena Park, California
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