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April 19, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Sonora, Business Loans > Umpqua Bank Sonora Business Loans > Motor Vehicle Towing Loan | ||||
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Umpqua Bank
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Umpqua Bank SBA Loan to Motor Vehicle Towing CompanyAn SBA loan from Umpqua Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Modesto, California business owner got a $323,900 loan. This small firm received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Umpqua Bank, out of Sonora, California. The loan was granted and they received $323,900 to help grow their Modesto, California business. SBA Loan Borrower COMPANY TYPE: MOTOR VEHICLE TOWING SBA Loan Lender UMPQUA BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 488410 - Motor Vehicle Towing Loan Approval Date 8/30/2002 Loan Approval Gross Amount $323,900 Loan Approval from the SBA Of the total $323,900 loan amount, the SBA guaranteed $242,925. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 6 existing jobs. Next Steps for Getting an SBA Loan SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. 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 Umpqua 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:
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