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April 20, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Alhambra, Business Loans > Cathay Bank Alhambra Business Loans > General Automotive Repair Loan | ||||
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California Small Business Funding
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Raising Money for General Automotive RepairWith these bank loans for general automotive repair, the SBA guarantees the lender that the loan will be repaid. This general automotive repair loan for $393,000 was given to a California entrepreneur in 2002. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Monrovia, California was able to borrow $393,000 from Cathay Bank. The SBA made the loan possible by guaranteeing $294,750 of this California small business loan. SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SBA Loan Lender CATHAY BANK This lender provides SBA guaranteed business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811111 - General Automotive Repair Loan Approval Date 7/17/2002 Loan Approval Gross Amount $393,000 Loan Approval from the SBA Of the total $393,000 loan amount, the SBA guaranteed $294,750. 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 2 employees. The SBA loan application for the borrower indicated that the borrowed money would help create 5 new jobs. Next Steps for Getting an SBA Loan SBA loans provide money to small business owners for working capital for other expenses. This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you. 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: Where to Get an SBA Loan in Alhambra, California
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