Getting an SBA Loan for Used Car Dealers

Looking for business loans for used car dealers? An SBA loan may be just what you've been looking for. This $50,000 used car dealers loan was issued by a California bank.

This small business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Montecito Bank & Trust, out of Santa Barbara, California. The loan was granted and they received $50,000 to help grow their Ventura (corporate Name San Bu, California business.

SBA Loan Borrower

COMPANY TYPE: USED CAR DEALERS
VENTURA (CORPORATE NAME SAN BU, CA 93003

SBA Loan Lender

MONTECITO BANK & TRUST
1106 COAST VILLAGE RD
SANTA BARBARA, CA 93108

This loan for a small business was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

441120 - Used Car Dealers

Loan Approval Date

8/8/2003

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

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 2 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 2 existing jobs.

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

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

This SBA loan was for $50,000. How would you spend $50,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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