Getting an SBA Loan for Motorcycle, Bicycle, and Parts Manufacturing

With these SBA loans for motorcycle, bicycle, and parts manufacturing, the SBA guarantees the lender that the loan will be repaid. This motorcycle, bicycle, and parts manufacturing loan for $250,000 was given to a California entrepreneur in 2007.

This business knew how to go about getting a business bank loan. Based in Grover Beach, California, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Citizens Business Bank, based in Ontario, California.

SBA Loan Borrower

COMPANY TYPE: MOTORCYCLE, BICYCLE, AND PARTS MANUFACTURING
Grover Beach, CA 93433

SBA Loan Lender

CITIZENS BUSINESS BANK
701 N HAVEN AVE, STE 350
ONTARIO, CA 91764

The lender provided this SBA small business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

336991 - Motorcycle, Bicycle, and Parts Manufacturing

Loan Approval Date

11/28/2007

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $125,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the small business promised to use the funding to add employees or retain any existing employees.

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

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Citizens Business Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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 Ontario, California

Getting a Business Loan in California