Tire Dealers Small Business Loans

With these small business loans for tire dealers, the SBA guarantees the lender that the loan will be repaid. This tire dealers loan for $100,000 was given to an Arkansas entrepreneur in 2002.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Salem, Arkansas was able to borrow $100,000 from Bank Of Salem. The SBA made the loan possible by guaranteeing $85,000 of this Arkansas small business loan.

SBA Loan Borrower

COMPANY TYPE: TIRE DEALERS
SALEM, AR 72576

SBA Loan Lender

BANK OF SALEM
207 W CHURCH ST
SALEM, AR 72576

This lender issued this particular bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

441320 - Tire Dealers

Loan Approval Date

3/22/2002

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

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

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.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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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