Loan to Buy Ford Motor dealers Franchise Issued By American State Bank

Need a loan to buy a Ford Motor dealers franchise? American State Bank has a history of making these loans and they are guaranteed by the SBA.

Ford Motor dealers franchise loans are available to Sweetwater, Texas entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, American State Bank, based in Lubbock, Texas, issued an SBA franchise loan for a Ford Motor dealers franchise in 2001. We've got all the details on this Texas small business loan.

SBA Loan Borrower

SNFORBES LTD CO EPC FOR CHAMPI
SWEETWATER, TX 79556

SBA Loan Lender

AMERICAN STATE BANK
1401 AVE 'Q'
LUBBOCK, TX 79401

This lender issued this debt financing under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5511 - Motor Vehicle Dealers

NAICS Code

441110 - New Car Dealers

Loan Approval Date

1/10/2001

Loan Approval Gross Amount

$770,000

Loan Approval from the SBA

Of the total $770,000 loan amount, the SBA guaranteed $577,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Ford Motor dealers franchise. At the time of the loan, the company had 8 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

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

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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.

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