New Car Dealers Business Loans

With these business loans for new car dealers, the SBA guarantees the lender that the loan will be repaid. This new car dealers loan for $2,000,000 was given to a Montana entrepreneur in 2005.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Kalispell, Montana was able to borrow $2,000,000 from Bank Of The West. The SBA made the loan possible by guaranteeing $1,500,000 of this Montana small business loan.

SBA Loan Borrower

COMPANY TYPE: NEW CAR DEALERS
KALISPELL, MT 59901

SBA Loan Lender

BANK OF THE WEST
1400 RIVER PARK DR, STE 200,
SACRAMENTO, CA 95815

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

441110 - New Car Dealers

Loan Approval Date

3/3/2005

Loan Approval Gross Amount

$2,000,000

Loan Approval from the SBA

Of the total $2,000,000 loan amount, the SBA guaranteed $1,500,000.

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 25 employees. This SBA loan request did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

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 Bank Of The West 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:

Direct Public Offerings

SBA Approved Banks in Sacramento, California

California SBA Bank Lenders