Getting an SBA Loan for Automobile and Motor Vehicle Wholesalers

Looking for business loans for automobile and motor vehicle wholesalers? Talk to a banker who works with the SBA. This $500,000 automobile and motor vehicle wholesalers loan was issued by a Missouri bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Nixa, Missouri was able to borrow $500,000 from Bancorpsouth Bank. The SBA made the loan possible by guaranteeing $375,000 of this Missouri small business loan.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE SUPPLIES AND NEW PARTS
NIXA, MO 65714

SBA Loan Lender

BANCORPSOUTH BANK
3939 S FREMONT
SPRINGFIELD, MO 65804

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide commercial 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

5013 - Motor Vehicle Supplies and New Parts

NAICS Code

421110 - Automobile and Motor Vehicle Wholesalers

Loan Approval Date

2/11/2003

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 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 7 employees. The SBA loan documents did not indicate that the company promised to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

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

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Bancorpsouth Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Business Incubators

Small Bank Loans in Springfield, Missouri

Missouri SBA Banks