Motor Vehicle Supplies and New Parts Merchant Wholesalers Bank Loans

Looking for bank loans for motor vehicle supplies and new parts merchant wholesalers? Try the SBA. This $150,000 motor vehicle supplies and new parts merchant wholesalers loan was issued by an Iowa bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Parkersburg, Iowa was able to borrow $150,000 from Waukon State Bank. The SBA made the loan possible by guaranteeing $127,500 of this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE SUPPLIES AND NEW PARTS MERCHANT WHOLESALERS
PARKERSBURG, IA 50665

SBA Loan Lender

WAUKON STATE BANK
22 W MAIN ST
WAUKON, IA 52172

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

423120 - Motor Vehicle Supplies and New Parts Merchant Wholesalers

Loan Approval Date

9/6/2005

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 2 employees. The SBA loan documents did not indicate that the small business planned to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you are wondering how to raise money for a company in Parkersburg IA, you ought to talk with a local Parkersburg SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Parkersburg businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Waukon State Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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