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November 21, 2024 |
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| Home > Small Business Lenders by State > Mississippi Business Loan Sources > Oakland, Business Loans > Innovative Bank Oakland Business Loans > Motor Vehicle Dealers Loan | ||||
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I Need an SBA 7A Loan in Jackson, Mississippi
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Loans for Motor Vehicle DealersLooking for loans for motor vehicle dealers? An SBA loan may be just what you've been looking for. This $10,000 motor vehicle dealers loan was issued by a California bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Jackson, Mississippi was able to borrow $10,000 from Innovative Bank. The SBA made the loan possible by guaranteeing $8,500 of this Mississippi small business loan. SBA Loan Borrower COMPANY TYPE: MOTOR VEHICLE DEALERS SBA Loan Lender INNOVATIVE BANK This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 441229 - Motor Vehicle Dealers Loan Approval Date 12/30/2005 Loan Approval Gross Amount $10,000 Loan Approval from the SBA Of the total $10,000 loan amount, the SBA guaranteed $8,500. 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 only one employee. The loan application indicated that the loan would help generate 1 new job and retain 1 existing job. Getting an SBA Loan For Your Business SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Innovative Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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:
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