How to Get a Loan for Motor Vehicle Parts Merchant Wholesalers

With these business loans for motor vehicle parts merchant wholesalers, the SBA guarantees the lender that the loan will be repaid. This motor vehicle parts merchant wholesalers loan for $477,700 was given to a Florida entrepreneur in 2004.

This small business knew how to go about getting a business bank loan. Based in Milton, Florida, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Bank Of Pensacola, based in Pensacola, Florida.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE PARTS MERCHANT WHOLESALERS
MILTON, FL 32583

SBA Loan Lender

BANK OF PENSACOLA
125 W ROMANA ST
PENSACOLA, FL 32502

This lender provides SBA business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

423140 - Motor Vehicle Parts Merchant Wholesalers

Loan Approval Date

7/1/2004

Loan Approval Gross Amount

$477,700

Loan Approval from the SBA

Of the total $477,700 loan amount, the SBA guaranteed $358,275.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 5 employees. The SBA loan application for the borrower indicated that the loan would help generate 5 new jobs and retain 10 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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.

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