Motorcycle, ATV, and Personal Watercraft Dealers SBA Loans
Looking for SBA loans for motorcycle, atv, and personal watercraft dealers? Try the SBA. This $358,100 motorcycle, atv, and personal watercraft dealers loan was issued by a California bank.
This small business received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with California Bank & Trust, out of Sacramento, California. The loan was granted and they received $358,100 to help grow their Pasadena, California business.
SBA Loan Borrower
COMPANY TYPE: MOTORCYCLE, ATV, AND PERSONAL WATERCRAFT DEALERS
PASADENA, CA 91107
SBA Loan Lender
CALIFORNIA BANK & TRUST
2399 GATEWAY OAKS DR, STE 110
SACRAMENTO, CA 95833
As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
441221 - Motorcycle, ATV, and Personal Watercraft Dealers
Loan Approval Date
9/27/2006
Loan Approval Gross Amount
$358,100
Loan Approval from the SBA
Of the total $358,100 loan amount, the SBA guaranteed $268,575.
More Information on This SBA Loan
The borrower borrowed this money for a new 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 3 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 5 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.
There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.
Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!
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.
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