Loans 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 $75,000 was given to a Rhode Island entrepreneur in 2005.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Warwick, Rhode Island was able to borrow $75,000 from Bank Rhode Island. The SBA made the loan possible by guaranteeing $37,500 of this Rhode Island small business loan.

SBA Loan Borrower

COMPANY TYPE: USED CAR DEALERS
WARWICK, RI 02888

SBA Loan Lender

BANK RHODE ISLAND
ONE TURKS HEAD PLACE
PROVIDENCE, RI 02903

This loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

1/5/2005

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $37,500.

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 5 employees. This SBA loan request indicated that the loan would help retain 5 existing jobs.

Start the Process for Getting an SBA Loan Today!

If you are wondering how to raise money for a business in Warwick RI, you ought to talk with a local Warwick SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Warwick businesses.

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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