How to Get a Loan for Truck, Utility Trailer, and RV Rental and Leasing
With these business loans for truck, utility trailer, and rv rental and leasing, the SBA guarantees the lender that the loan will be repaid. This truck, utility trailer, and rv rental and leasing loan for $30,000 was given to a California entrepreneur in 2007.
This business received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Union Bank Of California, out of San Francisco, California. The loan was granted and they received $30,000 to help grow their Spring Valley, California business.
SBA Loan Borrower
COMPANY TYPE: TRUCK, UTILITY TRAILER, AND RV RENTAL AND LEASING
SPRING VALLEY, CA 91978
SBA Loan Lender
UNION BANK OF CALIFORNIA
400 CALIFORNIA ST, 1ST FL
SAN FRANCISCO, CA 94104
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
532120 - Truck, Utility Trailer, and RV Rental and Leasing
Loan Approval Date
7/13/2007
Loan Approval Gross Amount
$30,000
Loan Approval from the SBA
Of the total $30,000 loan amount, the SBA guaranteed $15,000.
More Information on This SBA Loan
The borrower borrowed this money for a new 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 only one employee. This SBA loan request indicated that the loan would help retain 1 existing job.
Great, But How Can I Get an SBA Loan for My Business?
SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.
There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.
Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!
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:
How Equity Dilution Works
SBA 7A Banks in San Francisco, California
Getting a Business Loan in California