Financing for Used Car Dealers

With these loans for used car dealers, the SBA guarantees the lender that the loan will be repaid. This used car dealers loan for $224,000 was given to an Arizona entrepreneur in 2001.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Tucson, Arizona was able to borrow $224,000 from U.S. Bank National Association. The SBA made the loan possible by guaranteeing $168,000 of this Arizona small business loan.

SBA Loan Borrower

COMPANY TYPE: USED CAR DEALERS
TUCSON, AZ 85714

SBA Loan Lender

U.S. BANK NATIONAL ASSOCIATION
425 WALNUT ST
CINCINNATI, OH 45202

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

441120 - Used Car Dealers

Loan Approval Date

6/1/2001

Loan Approval Gross Amount

$224,000

Loan Approval from the SBA

Of the total $224,000 loan amount, the SBA guaranteed $168,000.

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 15 employees. The SBA loan documents indicated that the loan would help generate 5 new jobs and retain 10 existing jobs.

Getting an SBA Loan For Your Business

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

This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

Small Business Credit Cards

Small Bank Loans in Cincinnati, Ohio

Ohio SBA Bank Lenders