How to Get a Loan for Used Car Dealers

Looking for SBA loans for used car dealers? The SBA may be the answer. This $20,000 used car dealers loan was issued by a California bank.

This business received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Innovative Bank, out of Oakland, California. The loan was granted and they received $20,000 to help grow their Washington, District of Columbia business.

SBA Loan Borrower

COMPANY TYPE: USED CAR DEALERS
WASHINGTON, DC 20019

SBA Loan Lender

INNOVATIVE BANK
360 14TH ST
OAKLAND, CA 94612

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide commercial loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

441120 - Used Car Dealers

Loan Approval Date

11/19/2007

Loan Approval Gross Amount

$20,000

Loan Approval from the SBA

Of the total $20,000 loan amount, the SBA guaranteed $17,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The SBA loan documents indicated that the loan would help generate 6 new jobs and retain 3 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA loans provide smart, affordable business financing for small businesses looking to expand.

This SBA loan was for $20,000. How would you spend $20,000 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.

SBA Banks in Oakland, California

Browse All Business Loan Sources for California

We Needed a Business Loan in Washington, District of Columbia and We Got One!

How to Get a Loan for Used Car Dealers