Motorcycle, Bicycle, and Parts Manufacturing Loans

With these loans for motorcycle, bicycle, and parts manufacturing, the SBA guarantees the lender that the loan will be repaid. This motorcycle, bicycle, and parts manufacturing loan for $631,000 was given to a Florida entrepreneur in 2002.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Clearwater, Florida was able to borrow $631,000 from Cit Small Business Lending Corp. The SBA made the loan possible by guaranteeing $363,355 of this Florida small business loan.

SBA Loan Borrower

COMPANY TYPE: MOTORCYCLES, BICYCLES, AND PARTS
CLEARWATER, FL 33765

SBA Loan Lender

CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039

This lender issued this bank loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3751 - Motorcycles, Bicycles, and Parts

NAICS Code

336991 - Motorcycle, Bicycle, and Parts Manufacturing

Loan Approval Date

12/23/2002

Loan Approval Gross Amount

$631,000

Loan Approval from the SBA

Of the total $631,000 loan amount, the SBA guaranteed $363,355.

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 company promised to use the loan proceeds to hire new employees or retain any existing employees.

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

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

This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer 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.

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