Raising Money for Used Car Dealers

With these business loans for used car dealers, the SBA guarantees the lender that the loan will be repaid. This used car dealers loan for $35,000 was given to a Wisconsin entrepreneur in 2004.

This small business knew how to go about getting a business bank loan. Based in Kenosha, Wisconsin, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Banks Of Wisconsin, based in Kenosha, Wisconsin.

SBA Loan Borrower

COMPANY TYPE: USED CAR DEALERS
KENOSHA, WI 53142

SBA Loan Lender

BANKS OF WISCONSIN
5117 GREEN BAY RD
KENOSHA, WI 53144

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

441120 - Used Car Dealers

Loan Approval Date

5/25/2004

Loan Approval Gross Amount

$35,000

Loan Approval from the SBA

Of the total $35,000 loan amount, the SBA guaranteed $29,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. This SBA loan request did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees.

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

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Banks Of Wisconsin and they will explain how you can get an SBA loan for your company.

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:

Dealing With Venture Capitalists

SBA Banks in Kenosha, Wisconsin

SBA Participating Banks in Wisconsin