Raising Money for Used Car Dealers

With these business loans for used car dealers, the SBA guarantees the lender that the loan will be repaid. This used car dealers loan for $280,000 was given to a California entrepreneur in 2000.

This small business knew how to go about getting a business bank loan. Based in El Cerrito, California, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was First Bank, based in Creve Coeur, Missouri.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE DEALERS
EL CERRITO, CA 94530

SBA Loan Lender

FIRST BANK
11901 OLIVE BLVD
CREVE COEUR, MO 63141

This business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5521 - Motor Vehicle Dealers

NAICS Code

441120 - Used Car Dealers

Loan Approval Date

9/22/2000

Loan Approval Gross Amount

$280,000

Loan Approval from the SBA

Of the total $280,000 loan amount, the SBA guaranteed $210,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient 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?

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like First Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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:

Startup Funding Tip

SBA 7A Banks in Creve Coeur, Missouri

SBA Missouri Lenders