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May 3, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Truckee, Business Loans > Bank Of The West Truckee Business Loans > Motor Vehicle Towing Loan | ||||
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California Small Business SBA Loans
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Bank Of The West Gives SBA Loan to Motor Vehicle Towing CompanyWant a California business loan? This California entrepreneur got a business loan, provided by a California bank that works with the SBA to help small business owners. This business, based in Oakdale, California, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Bank Of The West. We've got the inside scoop on this California small business loan. SBA Loan Borrower COMPANY TYPE: MOTOR VEHICLE TOWING SBA Loan Lender BANK OF THE WEST This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 488410 - Motor Vehicle Towing Loan Approval Date 12/7/2007 Loan Approval Gross Amount $61,700 Loan Approval from the SBA Of the total $61,700 loan amount, the SBA guaranteed $30,850. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help retain 2 existing jobs. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $61,700 loan. Remember, fight for what you want, and it will be yours! 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: Raising VC Money for Social Networking Companies Good Banks for Small Business in Truckee, California Getting an SBA Loan in California
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