Raising Money for Motorcycle, ATV, and Personal Watercraft Dealers

Looking for business loans for motorcycle, atv, and personal watercraft dealers? The SBA may be the answer. This $75,000 motorcycle, atv, and personal watercraft dealers loan was issued by an Illinois bank.

This small business knew how to go about getting a business bank loan. Based in Wheaton, Illinois, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Community Bank-Wheaton/glen El, based in Wheaton, Illinois.

SBA Loan Borrower

COMPANY TYPE: MOTORCYCLE DEALERS
WHEATON, IL 60187

SBA Loan Lender

COMMUNITY BANK-WHEATON/GLEN EL
100 N WHEATON AVE
WHEATON, IL 60187

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5571 - Motorcycle Dealers

NAICS Code

441221 - Motorcycle, ATV, and Personal Watercraft Dealers

Loan Approval Date

2/9/2001

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $63,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The loan application did not indicate that the company promised to use the funding to hire new employees or retain any existing employees.

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

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

This SBA loan was for $75,000. How would you spend $75,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Alternative Financing

Where to Get an SBA Loan in Wheaton, Illinois

Illinois SBA 7A Lenders