Commercial Loans for Motorcycle, ATV, and Personal Watercraft Dealers

Looking for commercial loans for motorcycle, atv, and personal watercraft dealers? An SBA loan may be just what you've been looking for. This $221,590 motorcycle, atv, and personal watercraft dealers loan was issued by an Ohio bank.

Getting a small business loan in Indianapolis, Indiana was important for this business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from The Huntington National Bank, operating out of Columbus, Ohio. Here are the details on this Indiana small business loan.

SBA Loan Borrower

COMPANY TYPE: MOTORCYCLE, ATV, AND PERSONAL WATERCRAFT DEALERS
INDIANAPOLIS, IN 46204

SBA Loan Lender

THE HUNTINGTON NATIONAL BANK
7575 HUNTINGTON PARK DR, STE
COLUMBUS, OH 43235

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

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

441221 - Motorcycle, ATV, and Personal Watercraft Dealers

Loan Approval Date

3/14/2002

Loan Approval Gross Amount

$221,590

Loan Approval from the SBA

Of the total $221,590 loan amount, the SBA guaranteed $166,193.

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 2 employees. The loan application 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

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like The Huntington National Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Business Credit Evaluation

Small Business Banks in Columbus, Ohio

SBA Ohio Banks