Deposit, NY Entrepreneur Gets SBA Loan to Buy Chrysler Franchise

Need money to invest in a Chrysler franchise? Wilber National Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Chrysler franchise? If so, here's a 2001 SBA franchise loan that you should know about. Wilber National Bank was the lender and the entrepreneur was based in Deposit, New York.

SBA Loan Borrower

BUTEAU-PETZOLD CHRYSLER, INC.
DEPOSIT, NY 13754

SBA Loan Lender

WILBER NATIONAL BANK
245 MAIN ST
ONEONTA, NY 13820

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5012 - Automobiles and Other Motor Vehicles

NAICS Code

421110 - Automobile and Motor Vehicle Wholesalers

Loan Approval Date

5/24/2001

Loan Approval Gross Amount

$116,000

Loan Approval from the SBA

Of the total $116,000 loan amount, the SBA guaranteed $98,600.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Chrysler franchise. At the time of the loan, the company had 10 employees. The loan application did not indicate that the company promised to use the money to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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.

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.

Related Links:

Obtaining Funding - How to Borrow Money

Small Business Banks in Oneonta, New York

SBA New York Banks