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May 1, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > San Jose, Business Loans > Wells Fargo Bank San Jose Business Loans > Automotive Transmission Repair Loan | ||||
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How to Get SBA Loans in Bakersfield, California
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Automotive Transmission Repair Business LoansWith these business loans for automotive transmission repair, the SBA guarantees the lender that the loan will be repaid. This automotive transmission repair loan for $150,000 was given to a California entrepreneur in 2005. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Bakersfield, California was able to borrow $150,000 from Wells Fargo Bank. The SBA made the loan possible by guaranteeing $127,500 of this California small business loan. SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE TRANSMISSION REPAIR SBA Loan Lender WELLS FARGO BANK This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811113 - Automotive Transmission Repair Loan Approval Date 12/15/2005 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. 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 3 employees. The SBA loan application for the borrower indicated that the loan would help retain 3 existing jobs. Getting an SBA Loan For Your Business SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Wells Fargo Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: The Friends and Family Network SBA 7A Banks in San Jose, California
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