How to Get a Loan for Automobile and Motor Vehicle Wholesalers

With these SBA loans for automobile and motor vehicle wholesalers, the SBA guarantees the lender that the loan will be repaid. This automobile and motor vehicle wholesalers loan for $100,000 was given to a California entrepreneur in 2000.

Getting a small business loan in Van Nuys, California was important for this small business back in 2000 and, based on their loan application, they were successful in getting an SBA loan from East West Bank, operating out of Tarzana, California. Here are the details on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: AUTOMOBILE AND MOTOR VEHICLE WHOLESALERS
VAN NUYS, CA 91402

SBA Loan Lender

EAST WEST BANK
18321 VENTURA BLVD
TARZANA, CA 91356

This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

421110 - Automobile and Motor Vehicle Wholesalers

Loan Approval Date

12/4/2000

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $80,000.

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 6 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees.

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

If you are wondering how to raise money for a company in Van Nuys CA, you ought to talk with a local Van Nuys SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Van Nuys businesses.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from East West 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.

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