Financing for Motorcycle, ATV, and Personal Watercraft Dealers
Looking for loans for motorcycle, atv, and personal watercraft dealers? Try the SBA. This $150,000 motorcycle, atv, and personal watercraft dealers loan was issued by a North Carolina bank.
This small firm knew how to go about getting a business bank loan. Based in Asheboro, North Carolina, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Southern Commun Bank & Tr, based in Winston Salem, North Carolina.
SBA Loan Borrower
COMPANY TYPE: MOTORCYCLE DEALERS
ASHEBORO, NC 27203
SBA Loan Lender
SOUTHERN COMMUN BANK & TR
4701 COUNTRY CLUB RD
WINSTON SALEM, NC 27104
This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
5571 - Motorcycle Dealers
NAICS Code
441221 - Motorcycle, ATV, and Personal Watercraft Dealers
Loan Approval Date
6/22/2000
Loan Approval Gross Amount
$150,000
Loan Approval from the SBA
Of the total $150,000 loan amount, the SBA guaranteed $112,500.
More Information on This SBA Loan
The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company
had 6 employees. The SBA loan documents did not indicate that the company planned to use the funding to add employees or retain any existing employees.
Getting an SBA Loan For Your Business
SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.
While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.
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:
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Best Winston Salem, North Carolina Banks for Small Business
SBA Participating Banks in North Carolina