Small Business Loans for Motor Vehicle Dealers

Looking for small business loans for motor vehicle dealers? Talk to a banker who works with the SBA. This $334,900 motor vehicle dealers loan was issued by a California bank.

Getting a small business loan in South Gate, California was important for this growing firm back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Bbva Bancomer Usa, operating out of Moreno Valley, California. Here are the details on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE DEALERS
SOUTH GATE, CA 90280

SBA Loan Lender

BBVA BANCOMER USA
24010 SUNNYMEAD BLVD
MORENO VALLEY, CA 92553

This business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5599 - Automotive Dealers

NAICS Code

441229 - Motor Vehicle Dealers

Loan Approval Date

12/30/2002

Loan Approval Gross Amount

$334,900

Loan Approval from the SBA

Of the total $334,900 loan amount, the SBA guaranteed $251,175.

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 only one employee. The loan application did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Direct Public Offerings

SBA 7A Lenders in Moreno Valley, California

California SBA Banks