Getting an SBA Loan for Motorcycle, ATV, and Personal Watercraft Dealers

Looking for SBA loans for motorcycle, atv, and personal watercraft dealers? Talk to a banker who works with the SBA. This $80,000 motorcycle, atv, and personal watercraft dealers loan was issued by an Iowa bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Sioux City, Iowa was able to borrow $80,000 from Iowa-Nebraska State Bank. The SBA made the loan possible by guaranteeing $68,000 of this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: MOTORCYCLE, ATV, AND PERSONAL WATERCRAFT DEALERS
SIOUX CITY, IA 51105

SBA Loan Lender

IOWA-NEBRASKA STATE BANK
2401 HAMILTON BLVD
SIOUX CITY, IA 51104

This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

441221 - Motorcycle, ATV, and Personal Watercraft Dealers

Loan Approval Date

1/21/2003

Loan Approval Gross Amount

$80,000

Loan Approval from the SBA

Of the total $80,000 loan amount, the SBA guaranteed $68,000.

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 documents did not indicate that the business promised to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans provide money to small business owners for working capital for other expenses.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Iowa-Nebraska State Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

The Friends and Family Network

Who Lends Money to Small Businesses in Sioux City, Iowa

Iowa SBA Bank Lenders