Commercial Loans for Motor Vehicle Dealers

Looking for commercial loans for motor vehicle dealers? An SBA loan may be just what you've been looking for. This $415,000 motor vehicle dealers loan was issued by a Rhode Island bank.

This business knew how to go about getting a business bank loan. Based in Pawtucket, Rhode Island, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Freedom National Bank, based in Greenville, Rhode Island.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE DEALERS
PAWTUCKET, RI 02860

SBA Loan Lender

FREEDOM NATIONAL BANK
584 PUTNAM PIKE
GREENVILLE, RI 02828

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

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

441229 - Motor Vehicle Dealers

Loan Approval Date

5/3/2007

Loan Approval Gross Amount

$415,000

Loan Approval from the SBA

Of the total $415,000 loan amount, the SBA guaranteed $311,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. 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 money to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans provide money to small business owners for working capital for other expenses.

This SBA loan was for $415,000. How would you spend $415,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Getting a Small Business Loan

Who Lends Money to Small Businesses in Greenville, Rhode Island

Getting an SBA Loan in Rhode Island