Motorcycle, ATV, and Personal Watercraft Dealers Small Business Loans

Looking for small business loans for motorcycle, atv, and personal watercraft dealers? Try the SBA. This $15,000 motorcycle, atv, and personal watercraft dealers loan was issued by an Ohio bank.

This company received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with 1st National Community Bank, out of East Liverpool, Ohio. The loan was granted and they received $15,000 to help grow their East Liverpool, Ohio business.

SBA Loan Borrower

COMPANY TYPE: MOTORCYCLE, ATV, AND PERSONAL WATERCRAFT DEALERS
EAST LIVERPOOL, OH 43920

SBA Loan Lender

1ST NATIONAL COMMUNITY BANK
16924 ST. CLAIR AVE
EAST LIVERPOOL, OH 43920

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

441221 - Motorcycle, ATV, and Personal Watercraft Dealers

Loan Approval Date

11/29/2007

Loan Approval Gross Amount

$15,000

Loan Approval from the SBA

Of the total $15,000 loan amount, the SBA guaranteed $7,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help retain 1 existing job.

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

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. 1st National Community Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, 1st National Community Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Dealing With Venture Capitalists

SBA Approved Banks in East Liverpool, Ohio

Getting an SBA Loan in Ohio