Borrowing Money for Used Car Dealers

Looking for bank loans for used car dealers? The SBA may be the answer. This $150,000 used car dealers loan was issued by a Maryland bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Sheridan, Indiana was able to borrow $150,000 from Waterfield Bank. The SBA made the loan possible by guaranteeing $127,500 of this Indiana small business loan.

SBA Loan Borrower

COMPANY TYPE: USED CAR DEALERS
SHERIDAN, IN 46069

SBA Loan Lender

WATERFIELD BANK
19828 CENTURY BLVD
GERMANTOWN, MD 20874

This debt financing was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

441120 - Used Car Dealers

Loan Approval Date

5/23/2006

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. This SBA loan request did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you need money to start a small business or need money to grow a business, an SBA loan can be a great funding source

We can help you find the best banks for small businesses in Sheridan or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Equity Financing

SBA Participating Banks in Germantown, Maryland

Maryland SBA 7A Banks