Loans for Motor Vehicle Supplies and New Parts Merchant Wholesalers

With these loans for motor vehicle supplies and new parts merchant wholesalers, the SBA guarantees the lender that the loan will be repaid. This motor vehicle supplies and new parts merchant wholesalers loan for $25,000 was given to a Massachusetts entrepreneur in 2004.

This small firm knew how to go about getting a business bank loan. Based in New Bedford, Massachusetts, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Rbs Citizens, based in Boston, Massachusetts.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE SUPPLIES AND NEW PARTS MERCHANT WHOLESALERS
NEW BEDFORD, MA 02745

SBA Loan Lender

RBS CITIZENS
28 STATE ST
BOSTON, MA 02109

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

423120 - Motor Vehicle Supplies and New Parts Merchant Wholesalers

Loan Approval Date

9/29/2004

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 an existing 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 only one employee. This SBA loan request indicated that the loan would help retain 1 existing job.

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

If you are wondering how to raise money for a business in New Bedford MA, you ought to talk with a local New Bedford SBA lender or talk with an out-of-area SBA lender that has previously loaned money to New Bedford businesses.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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