Loans for Motor Vehicle Dealers

Looking for loans for motor vehicle dealers? An SBA loan may be just what you've been looking for. This $100,000 motor vehicle dealers loan was issued by a Florida bank.

Getting a small business loan in Lakeland, Florida was important for this company back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Bankfirst, operating out of Winter Park, Florida. Here are the details on this Florida small business loan.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE DEALERS
LAKELAND, FL 33809

SBA Loan Lender

BANKFIRST
1031 W MORSE BLVD, STE 323
WINTER PARK, FL 32789

The lender provided this debt financing 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

441229 - Motor Vehicle Dealers

Loan Approval Date

3/2/2007

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 12 employees. The SBA loan documents indicated that the loan would help retain 12 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans provide money to small business owners for working capital for other expenses.

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 Bankfirst 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:

Business Cash Advances

SBA Banks in Winter Park, Florida

Getting an SBA Loan in Florida