Borrowing Money for Motor Vehicle Supplies and New Parts Merchant Wholesalers

Looking for bank loans for motor vehicle supplies and new parts merchant wholesalers? An SBA loan may be just what you've been looking for. This $141,000 motor vehicle supplies and new parts merchant wholesalers loan was issued by a Washington bank.

This small firm knew how to go about getting a business bank loan. Based in Anacortes, Washington, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Whidbey Island Bank, based in Oak Harbor, Washington.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE SUPPLIES AND NEW PARTS MERCHANT WHOLESALERS
ANACORTES, WA 98221

SBA Loan Lender

WHIDBEY ISLAND BANK
450 SW BAYSHORE DR
OAK HARBOR, WA 98277

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.

NAICS Code

423120 - Motor Vehicle Supplies and New Parts Merchant Wholesalers

Loan Approval Date

2/11/2004

Loan Approval Gross Amount

$141,000

Loan Approval from the SBA

Of the total $141,000 loan amount, the SBA guaranteed $119,850.

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 5 employees. The SBA loan application for the borrower did not indicate that the business planned 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.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Whidbey Island Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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