Financing for Automobile and Motor Vehicle Merchant Wholesalers

With these commercial loans for automobile and motor vehicle merchant wholesalers, the SBA guarantees the lender that the loan will be repaid. This automobile and motor vehicle merchant wholesalers loan for $50,000 was given to an Ohio entrepreneur in 2007.

Getting a small business loan in Milford, Ohio was important for this small business back in 2007 and, based on their loan application, they were successful in getting an SBA loan from U.S. Bank National Association, operating out of Cincinnati, Ohio. Here are the details on this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: AUTOMOBILE AND MOTOR VEHICLE MERCHANT WHOLESALERS
MILFORD, OH 45150

SBA Loan Lender

U.S. BANK NATIONAL ASSOCIATION
425 WALNUT ST
CINCINNATI, OH 45202

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

423110 - Automobile and Motor Vehicle Merchant Wholesalers

Loan Approval Date

11/1/2007

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

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 9 employees. This SBA loan request indicated that the loan would help generate 4 new jobs and retain 14 existing jobs.

Start the Process for Getting an SBA Loan Today!

If you need money to start a small business or need money for an existing business, an SBA loan can be a great source of funding.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like U.S. Bank National Association and they will explain how you can get an SBA loan for your company.

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:

Obtaining Funding - Friends and Family

SBA Approved Banks in Cincinnati, Ohio

SBA Participating Banks in Ohio