How to Get a Loan for Motor Vehicle Parts Manufacturing

Looking for commercial loans for motor vehicle parts manufacturing? Talk to a banker who works with the SBA. This $100,000 motor vehicle parts manufacturing loan was issued by a Missouri bank.

This small business knew how to go about getting a business bank loan. Based in Sikeston, Missouri, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was First St. Bank & Trust Inc., based in Caruthersville, Missouri.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE PARTS MANUFACTURING
SIKESTON, MO 63801

SBA Loan Lender

FIRST ST. BANK & TRUST INC.
100 W 3RD ST
CARUTHERSVILLE, MO 63830

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

336399 - Motor Vehicle Parts Manufacturing

Loan Approval Date

10/8/2004

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

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 34 employees. This SBA loan request indicated that the loan would help generate 20 new jobs and retain 54 existing jobs.

Getting an SBA Loan For Your Business

If you are interested in getting money to start a business or already have a business and need money to expand, an SBA loan can be a great way to raise money

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First St. Bank & Trust Inc. had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First St. Bank & Trust Inc. made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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 From a Venture Capitalist

SBA 7A Lenders in Caruthersville, Missouri

Missouri SBA Bank Lenders