Grow America Fund Inc Gives Business Loan to Motor Vehicle Dealers Company

Bank loans in Pennsylvania are tough to come by these days. We take a look at one Pennsylvania bank loan, provided by a New York bank, that was approved by the SBA.

Getting a small business loan in New Holland, Pennsylvania was a top priority for this loan applicant back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Grow America Fund Inc. Here are the details on this Pennsylvania small business loan.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE DEALERS
NEW HOLLAND, PA 17557

SBA Loan Lender

GROW AMERICA FUND INC
708 THIRD AVENUE, SUITE 710
NEW YORK, NY 10017

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA loans to to entrepreneurs who might have trouble getting a conventional bank loan.

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

6/9/2003

Loan Approval Gross Amount

$500,000

Loan Approval from the SBA

Of the total $500,000 loan amount, the SBA guaranteed $375,000.

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 70 employees. The SBA loan documents did not indicate that the business planned to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

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

We can help you find the best banks for small businesses in New Holland or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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