Business Loan from Bank Of The West Given to General Automotive Repair Shops Company

An SBA loan from Bank Of The West typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Oakland, California business owner got a $90,000 loan.

This business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Bank Of The West, out of San Francisco, California. The loan was granted and they received $90,000 to help grow their Oakland, California business.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SHOPS
OAKLAND, CA 94603

SBA Loan Lender

BANK OF THE WEST
180 MONTGOMERY ST
SAN FRANCISCO, CA 94104

This lender issued this loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7538 - General Automotive Repair Shops

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

2/11/2000

Loan Approval Gross Amount

$90,000

Loan Approval from the SBA

Of the total $90,000 loan amount, the SBA guaranteed $67,500.

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 9 employees. The loan application did not indicate that the small business promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Bank Of The West are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

SBIR Funding

Banks in San Francisco, California

SBA Participating Banks in California