SBA Loans for Motorcycle, ATV, and Personal Watercraft Dealers

Looking for SBA loans for motorcycle, atv, and personal watercraft dealers? Talk to a banker who works with the SBA. This $776,500 motorcycle, atv, and personal watercraft dealers loan was issued by an Ohio bank.

This small business knew how to go about getting a business bank loan. Based in Indian Harbour Beach, Florida, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was United Midwest Savings Bank, based in De Graff, Ohio.

SBA Loan Borrower

COMPANY TYPE: MOTORCYCLE DEALERS
INDIAN HARBOUR BEACH, FL 32937

SBA Loan Lender

UNITED MIDWEST SAVINGS BANK
101 S MAIN ST
DE GRAFF, OH 43318

This lender issued this commercial loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5571 - Motorcycle Dealers

NAICS Code

441221 - Motorcycle, ATV, and Personal Watercraft Dealers

Loan Approval Date

5/22/2003

Loan Approval Gross Amount

$776,500

Loan Approval from the SBA

Of the total $776,500 loan amount, the SBA guaranteed $582,375.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 23 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from United Midwest Savings Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Bank Credit Lines

SBA 7A Banks for De Graff, Ohio Loans

Browse All Business Loan Sources for Ohio