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

With these SBA loans for motorcycle, bicycle, and parts manufacturing, the SBA guarantees the lender that the loan will be repaid. This motorcycle, bicycle, and parts manufacturing loan for $50,000 was given to a South Carolina entrepreneur in 2000.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Myrtle Beach, South Carolina was able to borrow $50,000 from Beach First National Bank. The SBA made the loan possible by guaranteeing $40,000 of this South Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: MOTORCYCLES, BICYCLES, AND PARTS
MYRTLE BEACH, SC 24575

SBA Loan Lender

BEACH FIRST NATIONAL BANK
3751 ROBERT M GRISSOM PKWY, S
MYRTLE BEACH, SC 29577

This lender issued this particular 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.

SIC Code

3751 - Motorcycles, Bicycles, and Parts

NAICS Code

336991 - Motorcycle, Bicycle, and Parts Manufacturing

Loan Approval Date

12/8/2000

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $40,000.

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 only one employee. The loan application did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

Many small businesses receive loans backed by the U.S. Small Business Administration.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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 Credit Cards

Banks in Myrtle Beach, South Carolina

Getting an SBA Loan in South Carolina