Small Business Loans for Tire Retreading

With these small business loans for tire retreading, the SBA guarantees the lender that the loan will be repaid. This tire retreading loan for $15,000 was given to a New York entrepreneur in 2003.

Getting a small business loan in Fillmore, New York was important for this growing firm back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Community Bank, operating out of Mount Morris, New York. Here are the details on this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: TIRE RETREADING AND REPAIR SHOPS
FILLMORE, NY 14735

SBA Loan Lender

COMMUNITY BANK
46 MAIN ST
MOUNT MORRIS, NY 14510

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

7534 - Tire Retreading and Repair Shops

NAICS Code

326212 - Tire Retreading

Loan Approval Date

1/3/2003

Loan Approval Gross Amount

$15,000

Loan Approval from the SBA

Of the total $15,000 loan amount, the SBA guaranteed $12,750.

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 3 employees. The SBA loan documents did not indicate that the company planned to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

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.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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:

How Equity Dilution Works

SBA Participating Banks in Mount Morris, New York

Getting an SBA Loan in New York