How to Get a Loan for Automobile and Motor Vehicle Wholesalers

Looking for business loans for automobile and motor vehicle wholesalers? The SBA may be the answer. This $610,000 automobile and motor vehicle wholesalers loan was issued by a Missouri bank.

This business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Citizens National Bank - Springfield, out of Springfield, Missouri. The loan was granted and they received $610,000 to help grow their Rogersville, Missouri business.

SBA Loan Borrower

COMPANY TYPE: AUTOMOBILES AND OTHER MOTOR VEHICLES
ROGERSVILLE, MO 65742

SBA Loan Lender

CITIZENS NATIONAL BANK - SPRINGFIELD
1465 E SUNSHINE
SPRINGFIELD, MO 65804

This lender issued this loan for a small business under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5012 - Automobiles and Other Motor Vehicles

NAICS Code

421110 - Automobile and Motor Vehicle Wholesalers

Loan Approval Date

10/24/2003

Loan Approval Gross Amount

$610,000

Loan Approval from the SBA

Of the total $610,000 loan amount, the SBA guaranteed $457,500.

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 8 employees. The SBA loan documents did not indicate that the business planned to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you are raising money in Rogersville MO, you ought to talk with a local Rogersville SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Rogersville 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 Citizens National Bank - Springfield 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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