Borrowing Money for Tire Dealers

With these small business loans for tire dealers, the SBA guarantees the lender that the loan will be repaid. This tire dealers loan for $82,300 was given to an Indiana entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Greensburg, Indiana was able to borrow $82,300 from The Friendship State Bank. The SBA made the loan possible by guaranteeing $69,955 of this Indiana small business loan.

SBA Loan Borrower

COMPANY TYPE: AUTO AND HOME SUPPLY STORES
GREENSBURG, IN 47240

SBA Loan Lender

THE FRIENDSHIP STATE BANK
5908 E MAIN ST, STATE RTE 62
FRIENDSHIP, IN 47021

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

5531 - Auto and Home Supply Stores

NAICS Code

441320 - Tire Dealers

Loan Approval Date

1/3/2003

Loan Approval Gross Amount

$82,300

Loan Approval from the SBA

Of the total $82,300 loan amount, the SBA guaranteed $69,955.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $82,300 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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.

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