Automobile and Motor Vehicle Wholesalers SBA Loans

Looking for SBA loans for automobile and motor vehicle wholesalers? Talk to a banker who works with the SBA. This $672,000 automobile and motor vehicle wholesalers loan was issued by a Kansas bank.

This small business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Intrust Bank, out of Wichita, Kansas. The loan was granted and they received $672,000 to help grow their Wichita, Kansas business.

SBA Loan Borrower

COMPANY TYPE: AUTOMOBILE AND MOTOR VEHICLE WHOLESALERS
WICHITA, KS 67219

SBA Loan Lender

INTRUST BANK
105 N MAIN ST
WICHITA, KS 67202

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

421110 - Automobile and Motor Vehicle Wholesalers

Loan Approval Date

10/29/2004

Loan Approval Gross Amount

$672,000

Loan Approval from the SBA

Of the total $672,000 loan amount, the SBA guaranteed $504,000.

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 73 employees. The loan application indicated that the borrowed money would help create 5 new jobs.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

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 Intrust 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.

Related Links:

Determining Proper Capital Structure for a Business

SBA 7A Lenders in Wichita, Kansas

Getting an SBA Loan in Kansas