Borrowing Money for New Car Dealers

Looking for loans for new car dealers? An SBA loan may be just what you've been looking for. This $40,000 new car dealers loan was issued by a West Virginia bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Cameron, West Virginia was able to borrow $40,000 from Branch Bank & Trust. The SBA made the loan possible by guaranteeing $32,000 of this West Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE DEALERS
CAMERON, WV 26033

SBA Loan Lender

BRANCH BANK & TRUST
1145 MAIN ST
WHEELING, WV 26003

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5511 - Motor Vehicle Dealers

NAICS Code

441110 - New Car Dealers

Loan Approval Date

1/10/2000

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $32,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the small business planned to use the money to hire new employees or retain any existing employees.

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

If you need money to start a business or need money to grow a business, an SBA loan can be a great source of funding.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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