Raising Money for New Car Dealers

Looking for bank loans for new car dealers? Try the SBA. This $282,700 new car dealers loan was issued by a North Dakota bank.

This small firm received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Bremer Bank, out of Fargo, North Dakota. The loan was granted and they received $282,700 to help grow their Fargo, North Dakota business.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE DEALERS
FARGO, ND 58102

SBA Loan Lender

BREMER BANK
1444 45TH ST SW
FARGO, ND 58103

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan for a small business was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5511 - Motor Vehicle Dealers

NAICS Code

441110 - New Car Dealers

Loan Approval Date

12/8/2004

Loan Approval Gross Amount

$282,700

Loan Approval from the SBA

Of the total $282,700 loan amount, the SBA guaranteed $212,025.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 4 employees. This SBA loan request did not indicate that the business planned to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $282,700 loan. Remember, things become real when you believe you can achieve them!

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:

Understanding Dilution

Good Banks for Small Business in Fargo, North Dakota

North Dakota SBA 7A Banks