How to Get a Loan for Motor Vehicle Dealers

With these commercial loans for motor vehicle dealers, the SBA guarantees the lender that the loan will be repaid. This motor vehicle dealers loan for $350,000 was given to a Wisconsin entrepreneur in 2007.

This small business knew how to go about getting a business bank loan. Based in Hartford, Wisconsin, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was First National Bank - Hartford, based in Hartford, Wisconsin.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE DEALERS
HARTFORD, WI 53027

SBA Loan Lender

FIRST NATIONAL BANK - HARTFORD
116 W SUMNER ST
HARTFORD, WI 53027

This lender processed this bank loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

441229 - Motor Vehicle Dealers

Loan Approval Date

11/9/2007

Loan Approval Gross Amount

$350,000

Loan Approval from the SBA

Of the total $350,000 loan amount, the SBA guaranteed $175,000.

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 3 employees. The loan application indicated that the loan would help retain 3 existing jobs.

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

Many small businesses receive loans backed by the U.S. Small Business Administration.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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

Where to Get an SBA Loan in Hartford, Wisconsin

Wisconsin SBA Banks