Financing for Used Car Dealers

Looking for commercial loans for used car dealers? An SBA loan may be just what you've been looking for. This $60,000 used car dealers loan was issued by a Pennsylvania bank.

This small business knew how to go about getting a business bank loan. Based in Wexford, Pennsylvania, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Enterprise Bank, based in Allison Park, Pennsylvania.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE DEALERS
WEXFORD, PA 15090

SBA Loan Lender

ENTERPRISE BANK
4091 MOUNT ROYAL BLVD
ALLISON PARK, PA 15101

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide business loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5521 - Motor Vehicle Dealers

NAICS Code

441120 - Used Car Dealers

Loan Approval Date

8/28/2003

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $51,000.

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 3 employees. This SBA loan request did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you are raising money in Wexford PA, you ought to talk with a local Wexford SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Wexford businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Enterprise Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Enterprise Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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