Borrowing Money for Automobile and Motor Vehicle Wholesalers

Looking for bank loans for automobile and motor vehicle wholesalers? Talk to a banker who works with the SBA. This $100,000 automobile and motor vehicle wholesalers loan was issued by a California bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in San Luis Obispo, California was able to borrow $100,000 from Coast National Bank. The SBA made the loan possible by guaranteeing $50,000 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: AUTOMOBILE AND MOTOR VEHICLE WHOLESALERS
SAN LUIS OBISPO, CA 93403

SBA Loan Lender

COAST NATIONAL BANK
500 MARSH ST
SAN LUIS OBISPO, CA 93401

The lender provided this SBA small business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

421110 - Automobile and Motor Vehicle Wholesalers

Loan Approval Date

5/9/2002

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

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 8 employees. The SBA loan application for the borrower indicated that the loan would help retain 8 existing jobs.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

We can help you find the best banks for small businesses in San Luis Obispo or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Advice on Getting a Small Business Loan

Best San Luis Obispo, California Banks for Small Business

SBA Participating Banks in California