State Bank Of India SBA Loan to Motor Vehicle Supplies And New Parts Company
Searching for a California SBA loan? Here's one California business loan that was approved by the SBA.
This small business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with State Bank Of India, out of Los Angeles, California. The loan was granted and they received $200,000 to help grow their Valencia, California business.
SBA Loan Borrower
COMPANY TYPE: MOTOR VEHICLE SUPPLIES AND NEW PARTS
VALENCIA, CA 91355
SBA Loan Lender
STATE BANK OF INDIA
707 WILSHIRE BLVD, STE 1995
LOS ANGELES, CA 90017
The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA business loans to to our country's hard-working small business owners.
SBA Loan Program Type
This loan was issued as a general business loan.
5013 - Motor Vehicle Supplies and New Parts
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $200,000 loan amount, the SBA guaranteed $150,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing 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 5 employees. This SBA loan request did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees.
Getting an SBA Loan For Your Business
SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.
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 State Bank Of India 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.
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