Motor Vehicle Dealers Commercial Loans

With these commercial loans for motor vehicle dealers, the SBA guarantees the lender that the loan will be repaid. This motor vehicle dealers loan for $712,500 was given to a North Carolina entrepreneur in 2001.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Sapphire, North Carolina was able to borrow $712,500 from Rbc Centura Bank. The SBA made the loan possible by guaranteeing $534,375 of this North Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE DEALERS
SAPPHIRE, NC 28774

SBA Loan Lender

RBC CENTURA BANK
3201 BEECHLEAF CT
RALEIGH, NC 27604

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

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

441229 - Motor Vehicle Dealers

Loan Approval Date

4/25/2001

Loan Approval Gross Amount

$712,500

Loan Approval from the SBA

Of the total $712,500 loan amount, the SBA guaranteed $534,375.

More Information on This SBA Loan

The borrower borrowed this money for a new 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.

Getting an SBA Loan For Your Business

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

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $712,500 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Obtaining Funding - How to Borrow Money

SBA 7A Banks for Raleigh, North Carolina Loans

Getting an SBA Loan in North Carolina