Commercial Loans for Automobile Manufacturing

Looking for commercial loans for automobile manufacturing? Try the SBA. This $75,000 automobile manufacturing loan was issued by a Florida bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Lakeland, Florida was able to borrow $75,000 from Colonial Bank. The SBA made the loan possible by guaranteeing $63,750 of this Florida small business loan.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLES AND PASSENGER CAR BODIES
LAKELAND, FL 33801

SBA Loan Lender

COLONIAL BANK
114 N TENNESSEE AVE
LAKELAND, FL 33801

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.

SIC Code

3711 - Motor Vehicles and Passenger Car Bodies

NAICS Code

336111 - Automobile Manufacturing

Loan Approval Date

12/2/2002

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $63,750.

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. The loan application did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you need money to start a business or need money for an existing business, an SBA loan can be a great source of funding.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Colonial Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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

Small Bank Loans in Lakeland, Florida

Getting an SBA Loan in Florida