Borrowing Money for School and Employee Bus Transportation

With these loans for school and employee bus transportation, the SBA guarantees the lender that the loan will be repaid. This school and employee bus transportation loan for $191,800 was given to a California entrepreneur in 2001.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Santa Ana, California was able to borrow $191,800 from Bank Of The West. The SBA made the loan possible by guaranteeing $143,850 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: SCHOOL AND EMPLOYEE BUS TRANSPORTATION
SANTA ANA, CA 92701

SBA Loan Lender

BANK OF THE WEST
10181 TRUCKEE TAHOE AIRPORT R
TRUCKEE, CA 96161

This lender issued this SBA loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

485410 - School and Employee Bus Transportation

Loan Approval Date

8/9/2001

Loan Approval Gross Amount

$191,800

Loan Approval from the SBA

Of the total $191,800 loan amount, the SBA guaranteed $143,850.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 65 employees. The SBA loan documents did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

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

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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