Get an SBA Loan for Used Car Dealers
With these bank loans for used car dealers, the SBA guarantees the lender that the loan will be repaid. This used car dealers loan for $31,700 was given to a New York entrepreneur in 2001.
This small firm received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Bank Of America, out of Providence, Rhode Island. The loan was granted and they received $31,700 to help grow their Medina, New York business.
SBA Loan Borrower
COMPANY TYPE: USED CAR DEALERS
MEDINA, NY 14103
SBA Loan Lender
BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903
The lender provided this business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.
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
11/6/2001
Loan Approval Gross Amount
$31,700
Loan Approval from the SBA
Of the total $31,700 loan amount, the SBA guaranteed $15,850.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company
had only one employee. The SBA loan documents indicated that the loan would help retain 1 existing job.
Great, But How Can I Get an SBA Loan for My Business?
For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.
We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.
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:
Small Business Loan
SBA Participating Banks in Providence, Rhode Island
Getting a Business Loan in Rhode Island