Financing for Tire Dealers

Looking for loans for tire dealers? Talk to a banker who works with the SBA. This $52,500 tire dealers loan was issued by a Massachusetts bank.

Getting a small business loan in Plaistow, New Hampshire was important for this growing firm back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Haverhill Bank, operating out of Haverhill, Massachusetts. Here are the details on this New Hampshire small business loan.

SBA Loan Borrower

COMPANY TYPE: AUTO AND HOME SUPPLY STORES
PLAISTOW, NH 03865

SBA Loan Lender

HAVERHILL BANK
180 MERRIMACK ST
HAVERHILL, MA 01830

This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5531 - Auto and Home Supply Stores

NAICS Code

441320 - Tire Dealers

Loan Approval Date

1/16/2001

Loan Approval Gross Amount

$52,500

Loan Approval from the SBA

Of the total $52,500 loan amount, the SBA guaranteed $44,625.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees.

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

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

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 Haverhill 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.

Related Links:

How Equity Dilution Works

SBA 7A Banks for Haverhill, Massachusetts Loans

Getting a Business Loan in Massachusetts