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November 24, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Cerritos, Business Loans > Gateway Business Bank Cerritos Business Loans > General Automotive Repair Loan | ||||
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SBA Lender Ontario California
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Small Business Loans for General Automotive RepairLooking for small business loans for general automotive repair? The SBA may be the answer. This $130,000 general automotive repair loan was issued by a California bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Ontario, California was able to borrow $130,000 from Gateway Business Bank. The SBA made the loan possible by guaranteeing $110,500 of this California small business loan. SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SBA Loan Lender GATEWAY BUSINESS BANK This lender provides SBA guaranteed bank loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811111 - General Automotive Repair Loan Approval Date 8/18/2005 Loan Approval Gross Amount $130,000 Loan Approval from the SBA Of the total $130,000 loan amount, the SBA guaranteed $110,500. 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 only one employee. This SBA loan request indicated that the loan would help generate 8 new jobs and retain 9 existing jobs. Getting an SBA Loan For Your Business 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. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Gateway Business Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Gateway Business Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: SBA Participating Banks in Cerritos, California
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