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May 5, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Temecula, Business Loans > Temecula Valley Bank Temecula Business Loans > Automotive Exhaust System Repair Loan | ||||
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Advice for Businesses On Getting a Loan
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Get an SBA Loan for Automotive Exhaust System RepairLooking for small business loans for automotive exhaust system repair? The SBA may be the answer. This $572,000 automotive exhaust system repair loan was issued by a California bank. This company knew how to go about getting a business bank loan. Based in Visalia, California, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Temecula Valley Bank, based in Temecula, California. SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE EXHAUST SYSTEM REPAIR SBA Loan Lender TEMECULA VALLEY BANK The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide debt financing to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811112 - Automotive Exhaust System Repair Loan Approval Date 3/27/2002 Loan Approval Gross Amount $572,000 Loan Approval from the SBA Of the total $572,000 loan amount, the SBA guaranteed $429,000. 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 9 employees. The SBA loan application for the borrower did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Every year, the SBA guarantees over $10 billion for loans just like this one. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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 Temecula, California
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