Financing for New Car Dealers

With these loans for new car dealers, the SBA guarantees the lender that the loan will be repaid. This new car dealers loan for $1,320,000 was given to a Massachusetts entrepreneur in 2004.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Bridgewater, Massachusetts was able to borrow $1,320,000 from Flagship Bank & Trust. The SBA made the loan possible by guaranteeing $660,000 of this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: NEW CAR DEALERS
BRIDGEWATER, MA 02324

SBA Loan Lender

FLAGSHIP BANK & TRUST
120 FRONT ST
WORCESTER, MA 01608

The lender provided this loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

441110 - New Car Dealers

Loan Approval Date

7/16/2004

Loan Approval Gross Amount

$1,320,000

Loan Approval from the SBA

Of the total $1,320,000 loan amount, the SBA guaranteed $660,000.

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 17 employees. The SBA loan documents did not indicate that the small business planned to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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.

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer 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.

Related Links:

Understanding Dilution

Small Bank Loans in Worcester, Massachusetts

SBA Massachusetts Banks