Raising Money for Used Car Dealers

Looking for business loans for used car dealers? An SBA loan may be just what you've been looking for. This $350,000 used car dealers loan was issued by a Pennsylvania bank.

This business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Susquehanna Bank Dv, out of Bryn Mawr, Pennsylvania. The loan was granted and they received $350,000 to help grow their W. Conshohocken, Pennsylvania business.

SBA Loan Borrower

COMPANY TYPE: USED CAR DEALERS
W. Conshohocken, PA 19428

SBA Loan Lender

SUSQUEHANNA BANK DV
101 S BRYN MAWR AVE
BRYN MAWR, PA 19010

The lender provided this bank loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

441120 - Used Car Dealers

Loan Approval Date

11/29/2005

Loan Approval Gross Amount

$350,000

Loan Approval from the SBA

Of the total $350,000 loan amount, the SBA guaranteed $175,000.

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 indicated that the loan would help retain 2 existing jobs.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

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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