Get an SBA Loan for Motorcycle, ATV, and Personal Watercraft Dealers

With these loans for motorcycle, atv, and personal watercraft dealers, the SBA guarantees the lender that the loan will be repaid. This motorcycle, atv, and personal watercraft dealers loan for $150,000 was given to a Louisiana entrepreneur in 2004.

Getting a small business loan in Alexandria, Louisiana was important for this growing firm back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Hancock Bank, operating out of Gulfport, Mississippi. Here are the details on this Louisiana small business loan.

SBA Loan Borrower

COMPANY TYPE: MOTORCYCLE, ATV, AND PERSONAL WATERCRAFT DEALERS
ALEXANDRIA, LA 71303

SBA Loan Lender

HANCOCK BANK
2510 14TH ST
GULFPORT, MS 39501

This lender issued this particular commercial loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

441221 - Motorcycle, ATV, and Personal Watercraft Dealers

Loan Approval Date

6/18/2004

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 11 employees. The loan application did not indicate that the SBA funding recipient promised to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

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 Hancock 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:

Obtaining Funding - How to Borrow Money

Where to Get an SBA Loan in Gulfport, Mississippi

Getting an SBA Loan in Mississippi