Getting an SBA Loan for Motor Vehicle Supplies and New Parts Wholesalers

With these SBA loans for motor vehicle supplies and new parts wholesalers, the SBA guarantees the lender that the loan will be repaid. This motor vehicle supplies and new parts wholesalers loan for $425,000 was given to an Ohio entrepreneur in 2002.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Columbus, Ohio was able to borrow $425,000 from Commerce National Bank. The SBA made the loan possible by guaranteeing $318,750 of this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE SUPPLIES AND NEW PARTS
COLUMBUS, OH 43228

SBA Loan Lender

COMMERCE NATIONAL BANK
3650 OLENTANGY RIVER RD, STE
COLUMBUS, OH 43214

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide commercial loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5013 - Motor Vehicle Supplies and New Parts

NAICS Code

421120 - Motor Vehicle Supplies and New Parts Wholesalers

Loan Approval Date

5/6/2002

Loan Approval Gross Amount

$425,000

Loan Approval from the SBA

Of the total $425,000 loan amount, the SBA guaranteed $318,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 13 employees. The SBA loan application for the borrower did not indicate that the business promised to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

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.

Related Links:

SBIR Funding

SBA 7A Banks in Columbus, Ohio

Getting a Business Loan in Ohio