Borrowing Money for Motor Vehicle Parts Manufacturing

With these small business loans for motor vehicle parts manufacturing, the SBA guarantees the lender that the loan will be repaid. This motor vehicle parts manufacturing loan for $200,000 was given to a Louisiana entrepreneur in 2002.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Kenner, Louisiana was able to borrow $200,000 from First Bank And Trust. The SBA made the loan possible by guaranteeing $180,000 of this Louisiana small business loan.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE PARTS MANUFACTURING
KENNER, LA 70056

SBA Loan Lender

FIRST BANK AND TRUST
3417 WILLIAMS BLVD
KENNER, LA 70065

When this loan was made, the lender was part of the SBA's Certified Lenders Program (CLP). This program was created to give rapid service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

336399 - Motor Vehicle Parts Manufacturing

Loan Approval Date

11/4/2002

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $180,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 5 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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