Business Loans for Used Car Dealers

Looking for business loans for used car dealers? The SBA may be the answer. This $40,000 used car dealers loan was issued by a Maine bank.

This small business knew how to go about getting a business bank loan. Based in Livermore, Maine, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Androscoggin Savings Bank, based in Lewiston, Maine.

SBA Loan Borrower

COMPANY TYPE: USED CAR DEALERS
LIVERMORE, ME 04253

SBA Loan Lender

ANDROSCOGGIN SAVINGS BANK
30 LISBON ST
LEWISTON, ME 04240

This lender processed this commercial loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

441120 - Used Car Dealers

Loan Approval Date

5/2/2003

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $20,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help retain 1 existing job.

Next Steps for Getting an SBA Loan

If you are working on finding money to start a business in Livermore ME, you ought to talk with a local Livermore SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Livermore businesses.

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:

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SBA Approved Banks in Lewiston, Maine

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