Raising Money for Used Car Dealers

With these business loans for used car dealers, the SBA guarantees the lender that the loan will be repaid. This used car dealers loan for $316,200 was given to an Arizona entrepreneur in 2002.

Getting a small business loan in Phoenix, Arizona was important for this small business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Sunrise Bank Of Arizona, operating out of Phoenix, Arizona. Here are the details on this Arizona small business loan.

SBA Loan Borrower

COMPANY TYPE: USED CAR DEALERS
PHOENIX, AZ 85020

SBA Loan Lender

SUNRISE BANK OF ARIZONA
4350 E CAMELBACK RD, STE 100
PHOENIX, AZ 85018

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

441120 - Used Car Dealers

Loan Approval Date

11/13/2002

Loan Approval Gross Amount

$316,200

Loan Approval from the SBA

Of the total $316,200 loan amount, the SBA guaranteed $237,150.

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 indicated that the loan would help retain 1 existing job.

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

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

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $316,200 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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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