Financing for Used Car Dealers

Looking for commercial loans for used car dealers? Try the SBA. This $250,000 used car dealers loan was issued by a Wisconsin bank.

This small business knew how to go about getting a business bank loan. Based in Sheboygan, Wisconsin, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Community Bank & Trust, based in Sheboygan, Wisconsin.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE DEALERS
SHEBOYGAN, WI 53081

SBA Loan Lender

COMMUNITY BANK & TRUST
604 N EIGHTH ST
SHEBOYGAN, WI 53081

This SBA bank loan was provided by financing institution with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loan guaranty requests to the SBA get more expeditious service from the SBA on their loan applications.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5511 - Motor Vehicle Dealers

NAICS Code

441120 - Used Car Dealers

Loan Approval Date

11/4/2002

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $187,500.

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 only one employee. The loan application did not indicate that the small business planned to use the money to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

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.

Related Links:

How to Raise Money

Find an SBA Lender in Sheboygan, Wisconsin

Wisconsin SBA Banks