New Car Dealers SBA Loans

With these SBA loans for new car dealers, the SBA guarantees the lender that the loan will be repaid. This new car dealers loan for $111,200 was given to a Kansas entrepreneur in 2002.

Getting a small business loan in Seneca, Kansas was important for this business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from First National Bank, operating out of Seneca, Kansas. Here are the details on this Kansas small business loan.

SBA Loan Borrower

COMPANY TYPE: NEW CAR DEALERS
SENECA, KS 66538

SBA Loan Lender

FIRST NATIONAL BANK
906 NORTH ST
SENECA, KS 66538

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

441110 - New Car Dealers

Loan Approval Date

8/19/2002

Loan Approval Gross Amount

$111,200

Loan Approval from the SBA

Of the total $111,200 loan amount, the SBA guaranteed $94,520.

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 business planned to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like First National Bank and they will explain how you can get an SBA loan for your company.

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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