Motor Vehicle Supplies and New Parts Wholesalers Bank Loans

Looking for bank loans for motor vehicle supplies and new parts wholesalers? Talk to a banker who works with the SBA. This $150,000 motor vehicle supplies and new parts wholesalers loan was issued by a Missouri bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in St. Louis, Missouri was able to borrow $150,000 from First Bank. The SBA made the loan possible by guaranteeing $135,000 of this Missouri small business loan.

SBA Loan Borrower

COMPANY TYPE: FARM PRODUCT WAREHOUSING AND STORAGE
ST. LOUIS, MO 63102

SBA Loan Lender

FIRST BANK
11901 OLIVE BLVD
CREVE COEUR, MO 63141

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide debt financing to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

4221 - Farm Product Warehousing and Storage

NAICS Code

421120 - Motor Vehicle Supplies and New Parts Wholesalers

Loan Approval Date

9/21/2001

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $135,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the business promised 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 loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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

Banks in Creve Coeur, Missouri

SBA Lenders in Missouri