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November 14, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Cerritos, Business Loans > Gateway Business Bank Cerritos Business Loans > Used Car Dealers Loan | ||||
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Gateway Business Bank Small Business Loans Pacoima, CA
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SBA Loan from Gateway Business Bank Helps Used Car Dealers CompanyGateway Business Bank has a track record as a leading provider of SBA loans. Find out how this California entrepreneur received an SBA loan from them. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Pacoima, California was able to borrow $495,000 from Gateway Business Bank. The SBA made the loan possible by guaranteeing $371,250 of this California small business loan. SBA Loan Borrower COMPANY TYPE: USED CAR DEALERS SBA Loan Lender GATEWAY BUSINESS BANK 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 441120 - Used Car Dealers Loan Approval Date 7/27/2005 Loan Approval Gross Amount $495,000 Loan Approval from the SBA Of the total $495,000 loan amount, the SBA guaranteed $371,250. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 4 existing jobs. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. 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 Gateway Business 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: Good Banks for Small Business in Cerritos, California
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