How to Get a Loan for Motor Vehicle Dealers

Looking for SBA loans for motor vehicle dealers? An SBA loan may be just what you've been looking for. This $150,000 motor vehicle dealers loan was issued by a California bank.

This business received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with County Bank, out of Merced, California. The loan was granted and they received $150,000 to help grow their Chowchilla, California business.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE DEALERS
Chowchilla, CA 93610

SBA Loan Lender

COUNTY BANK
550 W MAIN ST
MERCED, CA 95340

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

441229 - Motor Vehicle Dealers

Loan Approval Date

8/30/2007

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $75,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help retain 2 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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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