Commercial Loans for New Car Dealers

With these commercial loans for new car dealers, the SBA guarantees the lender that the loan will be repaid. This new car dealers loan for $35,000 was given to a Massachusetts entrepreneur in 2000.

This small business knew how to go about getting a business bank loan. Based in Arlington, Massachusetts, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Rbs Citizens, based in Boston, Massachusetts.

SBA Loan Borrower

COMPANY TYPE: TRUCK RENTAL AND LEASING, WITHOUT DRIVERS
ARLINGTON, MA 02474

SBA Loan Lender

RBS CITIZENS
28 STATE ST
BOSTON, MA 02109

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

SIC Code

7513 - Truck Rental and Leasing, Without Drivers

NAICS Code

441110 - New Car Dealers

Loan Approval Date

11/7/2000

Loan Approval Gross Amount

$35,000

Loan Approval from the SBA

Of the total $35,000 loan amount, the SBA guaranteed $17,500.

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 12 employees. The loan application indicated that the loan would help retain 12 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Rbs Citizens are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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:

Obtaining Funding - Friends and Family

Who Lends Money to Small Businesses in Boston, Massachusetts

Massachusetts SBA Bank Lenders