Get an SBA Loan for New Car Dealers

With these small business loans for new car dealers, the SBA guarantees the lender that the loan will be repaid. This new car dealers loan for $350,000 was given to a New York entrepreneur in 2002.

This small firm received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Natl Consumer Cooperative, out of Washington, District of Columbia. The loan was granted and they received $350,000 to help grow their Monroe, New York business.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE DEALERS
MONROE, NY 10950

SBA Loan Lender

NATL CONSUMER COOPERATIVE
601 PENNSYLVANIA AVE, NW, STE
WASHINGTON, DC 20044

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5511 - Motor Vehicle Dealers

NAICS Code

441110 - New Car Dealers

Loan Approval Date

2/22/2002

Loan Approval Gross Amount

$350,000

Loan Approval from the SBA

Of the total $350,000 loan amount, the SBA guaranteed $262,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. This SBA loan request did not indicate that the business planned to use the money to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Natl Consumer Cooperative so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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