Financing for Automobile and Motor Vehicle Merchant Wholesalers

Looking for commercial loans for automobile and motor vehicle merchant wholesalers? The SBA may be the answer. This $25,000 automobile and motor vehicle merchant wholesalers loan was issued by a North Carolina bank.

Getting a small business loan in Youngsville, North Carolina was important for this business back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Coastal Fcu, operating out of Raleigh, North Carolina. Here are the details on this North Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: AUTOMOBILE AND MOTOR VEHICLE MERCHANT WHOLESALERS
YOUNGSVILLE, NC 27596

SBA Loan Lender

COASTAL FCU
1000 ST ALBANS DR
RALEIGH, NC 27609

This lender processed this business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

423110 - Automobile and Motor Vehicle Merchant Wholesalers

Loan Approval Date

2/23/2007

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $12,500.

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 only one employee. The SBA loan documents indicated that the loan would help generate 1 new job and retain 1 existing job.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Coastal Fcu that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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