Business Loans for Motorcycle, ATV, and Personal Watercraft Dealers

With these business loans for motorcycle, atv, and personal watercraft dealers, the SBA guarantees the lender that the loan will be repaid. This motorcycle, atv, and personal watercraft dealers loan for $200,000 was given to a Virginia entrepreneur in 2004.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Woodbridge, Virginia was able to borrow $200,000 from The Adams National Bank. The SBA made the loan possible by guaranteeing $150,000 of this Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: MOTORCYCLE DEALERS
WOODBRIDGE, VA 22191

SBA Loan Lender

THE ADAMS NATIONAL BANK
1130 CONNECTICUT AVE NW, STE
WASHINGTON, DC 20006

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan was issued via the SBA 7a lending program.

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

12/1/2004

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $150,000.

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 6 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you need money to start a business or need money to grow a business, an SBA loan can be a great source of funding.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $200,000 loan. Remember, where there is a will, there is a way!

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:

Obtaining Funding - Getting Venture Capital

Where to Get an SBA Loan in Washington, District of Columbia

SBA Lenders in District of Columbia