How to Get a Loan for Tire Dealers

Looking for commercial loans for tire dealers? The SBA may be the answer. This $1,792,000 tire dealers loan was issued by a Florida bank.

This business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Mercantile Bank, A Division Of, out of Orlando, Florida. The loan was granted and they received $1,792,000 to help grow their Jacksonville, Florida business.

SBA Loan Borrower

COMPANY TYPE: TIRE DEALERS
JACKSONVILLE, FL 32246

SBA Loan Lender

MERCANTILE BANK, A DIVISION OF
100 S ORANGE AVE
ORLANDO, FL 32801

This lender issued this SBA loan under the SBA's 7(a) guaranteed loan program, 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.

NAICS Code

441320 - Tire Dealers

Loan Approval Date

9/27/2002

Loan Approval Gross Amount

$1,792,000

Loan Approval from the SBA

Of the total $1,792,000 loan amount, the SBA guaranteed $999,990.

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 6 employees. This SBA loan request did not indicate that the small business planned to use the money to add employees or retain any existing employees.

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

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Mercantile Bank, A Division Of 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.

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