Rosamond, CA Entrepreneur Gets SBA Loan to Buy Chevrolet Franchise

Borrowing money to purchase a Chevrolet franchise? Hanmi Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Rosamond, California needed money to invest in a Chevrolet franchise back in 2004. Hanmi Bank issued an SBA franchise loan. Here are the details on this California small business loan.

SBA Loan Borrower

ROSAMOND CHEVRON
ROSAMOND, CA 93560

SBA Loan Lender

HANMI BANK
3660 WILSHIRE BLVD, STE 103
LOS ANGELES, CA 90010

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

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

11/30/2004

Loan Approval Gross Amount

$490,000

Loan Approval from the SBA

Of the total $490,000 loan amount, the SBA guaranteed $240,100.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Chevrolet franchise. At the time of the loan, the company had 8 employees. The loan application indicated that the loan would help generate 13 new jobs and retain 8 existing jobs.

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

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

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 Hanmi 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.

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