Getting an SBA Loan for Automotive Transmission Repair

Looking for commercial loans for automotive transmission repair? An SBA loan may be just what you've been looking for. This $499,800 automotive transmission repair loan was issued by a California bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Riverside, California was able to borrow $499,800 from Fullerton Community Bank, Fsb. The SBA made the loan possible by guaranteeing $374,850 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE TRANSMISSION REPAIR
RIVERSIDE, CA 92507

SBA Loan Lender

FULLERTON COMMUNITY BANK, FSB
200 W COMMONWEALTH AVE
FULLERTON, CA 92832

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

811113 - Automotive Transmission Repair

Loan Approval Date

7/23/2002

Loan Approval Gross Amount

$499,800

Loan Approval from the SBA

Of the total $499,800 loan amount, the SBA guaranteed $374,850.

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 3 employees. The loan application indicated that the loan would help retain 3 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans provide money to small business owners for working capital for other expenses.

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:

Obtaining Funding - How to Borrow Money

Small Bank Loans in Fullerton, California

SBA California Lenders