Small Business Loans for Automobile and Motor Vehicle Merchant Wholesalers

Looking for small business loans for automobile and motor vehicle merchant wholesalers? An SBA loan may be just what you've been looking for. This $750,000 automobile and motor vehicle merchant wholesalers loan was issued by a New York bank.

This company knew how to go about getting a business bank loan. Based in Buffalo, New York, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was First Niagara Bank, based in Buffalo, New York.

SBA Loan Borrower

COMPANY TYPE: AUTOMOBILE AND MOTOR VEHICLE MERCHANT WHOLESALERS
BUFFALO, NY 14209

SBA Loan Lender

FIRST NIAGARA BANK
2141 ELMWOOD AVE
BUFFALO, NY 14207

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide SBA loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

423110 - Automobile and Motor Vehicle Merchant Wholesalers

Loan Approval Date

11/17/2003

Loan Approval Gross Amount

$750,000

Loan Approval from the SBA

Of the total $750,000 loan amount, the SBA guaranteed $562,500.

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 15 employees. The loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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SBA Participating Banks in Buffalo, New York

New York SBA Banks