Getting an SBA Loan 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 $17,900 was given to a New York entrepreneur in 2000.

This small business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Bank Of America, out of Providence, Rhode Island. The loan was granted and they received $17,900 to help grow their Rochester, New York business.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE DEALERS
ROCHESTER, NY 14450

SBA Loan Lender

BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903

The lender provided this commercial loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

SIC Code

5521 - Motor Vehicle Dealers

NAICS Code

441120 - Used Car Dealers

Loan Approval Date

9/8/2000

Loan Approval Gross Amount

$17,900

Loan Approval from the SBA

Of the total $17,900 loan amount, the SBA guaranteed $8,950.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 application for the borrower indicated that the loan would help retain 2 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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:

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Small Business Banks in Providence, Rhode Island

Getting an SBA Loan in Rhode Island