Getting an SBA Loan for Tire Retreading

With these commercial loans for tire retreading, the SBA guarantees the lender that the loan will be repaid. This tire retreading loan for $588,000 was given to a California entrepreneur in 2001.

This business knew how to go about getting a business bank loan. Based in Ontario, California, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was American Security Bank, based in Santa Ana, California.

SBA Loan Borrower

COMPANY TYPE: TIRE RETREADING
ONTARIO, CA 91761

SBA Loan Lender

AMERICAN SECURITY BANK
1 MACARTHUR PL, STE 110
SANTA ANA, CA 92707

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

326212 - Tire Retreading

Loan Approval Date

3/30/2001

Loan Approval Gross Amount

$588,000

Loan Approval from the SBA

Of the total $588,000 loan amount, the SBA guaranteed $441,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 10 employees. This SBA loan request indicated that the loan would help retain 10 existing jobs.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Bank Credit Lines

SBA Banks in Santa Ana, California

Getting a Business Loan in California