Get an SBA Loan for Used Car Dealers

Looking for small business loans for used car dealers? An SBA loan may be just what you've been looking for. This $120,000 used car dealers loan was issued by a Texas bank.

This small firm received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Security State Bank, out of Lubbock, Texas. The loan was granted and they received $120,000 to help grow their Brownfield, Texas business.

SBA Loan Borrower

COMPANY TYPE: USED CAR DEALERS
BROWNFIELD, TX 79316

SBA Loan Lender

SECURITY STATE BANK
4415 71ST ST, STE 11
LUBBOCK, TX 79424

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

441120 - Used Car Dealers

Loan Approval Date

12/20/2004

Loan Approval Gross Amount

$120,000

Loan Approval from the SBA

Of the total $120,000 loan amount, the SBA guaranteed $102,000.

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 2 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Every year, the SBA guarantees over $10 billion for loans just like this one.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Security State Bank and they will explain how you can get an SBA loan for your company.

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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