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November 15, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Los Angeles, Business Loans > Commonwealth Business Bank Los Angeles Business Loans > General Automotive Repair Loan | ||||
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Commonwealth Business Bank Business Loans
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Where to Get Capital for General Automotive RepairLooking for small business loans for general automotive repair? Try the SBA. This $320,000 general automotive repair loan was issued by a California bank. This company knew how to go about getting a business bank loan. Based in Quartz Hill, California, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Commonwealth Business Bank, based in Los Angeles, California. SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SBA Loan Lender COMMONWEALTH BUSINESS BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811111 - General Automotive Repair Loan Approval Date 10/25/2007 Loan Approval Gross Amount $320,000 Loan Approval from the SBA Of the total $320,000 loan amount, the SBA guaranteed $240,000. 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 7 employees. The loan application indicated that the loan would help retain 7 existing jobs. Getting an SBA Loan For Your Business SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Commonwealth Business Bank and they will explain how you can get an SBA loan for your company. 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: Obtaining Funding - Getting Venture Capital Small Business Banks in Los Angeles, California
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