How to Get a Loan for Motorcycle, Bicycle, and Parts Manufacturing

Looking for commercial loans for motorcycle, bicycle, and parts manufacturing? Try the SBA. This $150,000 motorcycle, bicycle, and parts manufacturing loan was issued by a California bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Mcminnville, Oregon was able to borrow $150,000 from Wells Fargo Bank. The SBA made the loan possible by guaranteeing $127,500 of this Oregon small business loan.

SBA Loan Borrower

COMPANY TYPE: MOTORCYCLE, BICYCLE, AND PARTS MANUFACTURING
MCMINNVILLE, OR 97128

SBA Loan Lender

WELLS FARGO BANK
121 PARK CENTER PLZ
SAN JOSE, CA 95113

This lender issued this particular small business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

336991 - Motorcycle, Bicycle, and Parts Manufacturing

Loan Approval Date

9/27/2005

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 2 employees. The SBA loan documents did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Wells Fargo Bank 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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