Borrowing Money for Tire and Tube Merchant Wholesalers

With these loans for tire and tube merchant wholesalers, the SBA guarantees the lender that the loan will be repaid. This tire and tube merchant wholesalers loan for $171,300 was given to a Mississippi entrepreneur in 2004.

This small firm knew how to go about getting a business bank loan. Based in Rolling Fork, Mississippi, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Guaranty Bank & Trust Co., based in Hollandale, Mississippi.

SBA Loan Borrower

COMPANY TYPE: TIRES AND TUBES
ROLLING FORK, MS 39159

SBA Loan Lender

GUARANTY BANK & TRUST CO.
201 EAST AVE SOUTH
HOLLANDALE, MS 38748

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

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5014 - Tires and Tubes

NAICS Code

423130 - Tire and Tube Merchant Wholesalers

Loan Approval Date

8/6/2004

Loan Approval Gross Amount

$171,300

Loan Approval from the SBA

Of the total $171,300 loan amount, the SBA guaranteed $128,475.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 4 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

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

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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 Lenders in Hollandale, Mississippi

Getting an SBA Loan in Mississippi