How to Get a Loan for Motorcycle, ATV, and Personal Watercraft Dealers

Looking for business loans for motorcycle, atv, and personal watercraft dealers? An SBA loan may be just what you've been looking for. This $1,510,000 motorcycle, atv, and personal watercraft dealers loan was issued by an Oklahoma bank.

This business received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Security Bank, out of Pawnee, Oklahoma. The loan was granted and they received $1,510,000 to help grow their Tulsa, Oklahoma business.

SBA Loan Borrower

COMPANY TYPE: MOTORCYCLE, ATV, AND PERSONAL WATERCRAFT DEALERS
TULSA, OK 74115

SBA Loan Lender

SECURITY BANK
551 HARRISON ST
PAWNEE, OK 74058

This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

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

12/27/2006

Loan Approval Gross Amount

$1,510,000

Loan Approval from the SBA

Of the total $1,510,000 loan amount, the SBA guaranteed $1,132,500.

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 12 employees. The loan application did not indicate that the business planned to use the money to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Security Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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