Motor Vehicle Parts Manufacturing Business Loans

Looking for business loans for motor vehicle parts manufacturing? Talk to a banker who works with the SBA. This $1,500,000 motor vehicle parts manufacturing loan was issued by a Virginia bank.

Getting a small business loan in Mclean, Virginia was important for this small business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Sonabank, National Association, operating out of Warrenton, Virginia. Here are the details on this Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: TRANSPORTATION EQUIPMENT
MCLEAN, VA 22102

SBA Loan Lender

SONABANK, NATIONAL ASSOCIATION
550 BROADVIEW AVE, STE LL1
WARRENTON, VA 20186

This small business loan was provided by a lender with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loans to the SBA get more expeditious service from the SBA on their loan applications.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3799 - Transportation Equipment

NAICS Code

336399 - Motor Vehicle Parts Manufacturing

Loan Approval Date

9/20/2001

Loan Approval Gross Amount

$1,500,000

Loan Approval from the SBA

Of the total $1,500,000 loan amount, the SBA guaranteed $995,100.

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

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Sonabank, National Association that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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