Motorcycle, ATV, and Personal Watercraft Dealers Small Business Loans

With these small business loans for motorcycle, atv, and personal watercraft dealers, the SBA guarantees the lender that the loan will be repaid. This motorcycle, atv, and personal watercraft dealers loan for $575,000 was given to a Connecticut entrepreneur in 2000.

This small firm knew how to go about getting a business bank loan. Based in Litchfield, Connecticut, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Cit Small Business Lending Corp, based in Livingston, New Jersey.

SBA Loan Borrower

COMPANY TYPE: MOTORCYCLE DEALERS
LITCHFIELD, CT 06759

SBA Loan Lender

CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5571 - Motorcycle Dealers

NAICS Code

441221 - Motorcycle, ATV, and Personal Watercraft Dealers

Loan Approval Date

1/27/2000

Loan Approval Gross Amount

$575,000

Loan Approval from the SBA

Of the total $575,000 loan amount, the SBA guaranteed $431,250.

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 12 employees. This SBA loan request indicated that the loan would help retain 12 existing jobs.

Start the Process for Getting an SBA Loan Today!

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.

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.

Related Links:

Strategic Investors

SBA Banks in Livingston, New Jersey

Getting a Business Loan in New Jersey