Get an SBA Loan for Motor Vehicle Dealers

Looking for bank loans for motor vehicle dealers? An SBA loan may be just what you've been looking for. This $283,500 motor vehicle dealers loan was issued by an Iowa bank.

This company knew how to go about getting a business bank loan. Based in Sioux City, Iowa, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Primebank, based in Sioux Center, Iowa.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE DEALERS
SIOUX CITY, IA 51105

SBA Loan Lender

PRIMEBANK
1601 S MAIN AVE
SIOUX CENTER, IA 51250

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide SBA small business loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

441229 - Motor Vehicle Dealers

Loan Approval Date

3/28/2006

Loan Approval Gross Amount

$283,500

Loan Approval from the SBA

Of the total $283,500 loan amount, the SBA guaranteed $212,625.

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 9 employees. The SBA loan application for the borrower did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Primebank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Getting a Small Business Loan

SBA Banks in Sioux Center, Iowa

Browse All Business Loan Sources for Iowa