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November 15, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Roseburg, Business Loans > Umpqua Bank Roseburg Business Loans > General Automotive Repair Loan | ||||
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California Small Business Funding
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Small Business Loans for General Automotive RepairLooking for small business loans for general automotive repair? An SBA loan may be just what you've been looking for. This $80,000 general automotive repair loan was issued by an Oregon bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Vallejo, California was able to borrow $80,000 from Umpqua Bank. The SBA made the loan possible by guaranteeing $68,000 of this California small business loan. SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SBA Loan Lender UMPQUA BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811111 - General Automotive Repair Loan Approval Date 8/3/2004 Loan Approval Gross Amount $80,000 Loan Approval from the SBA Of the total $80,000 loan amount, the SBA guaranteed $68,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Umpqua Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: Best Banks in Roseburg, Oregon
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