Commercial Loans for New Car Dealers

Looking for commercial loans for new car dealers? An SBA loan may be just what you've been looking for. This $500,000 new car dealers loan was issued by a Minnesota bank.

This small business received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Premier Bank, out of Roseville, Minnesota. The loan was granted and they received $500,000 to help grow their St. Paul, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: NEW CAR DEALERS
ST. PAUL, MN 55114

SBA Loan Lender

PREMIER BANK
1875 W HWY 36
ROSEVILLE, MN 55113

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

441110 - New Car Dealers

Loan Approval Date

5/31/2007

Loan Approval Gross Amount

$500,000

Loan Approval from the SBA

Of the total $500,000 loan amount, the SBA guaranteed $375,000.

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 20 employees. The loan application indicated that the loan would help retain 20 existing jobs.

Start the Process for Getting an SBA Loan Today!

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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 Incubators

Small Business Banks in Roseville, Minnesota

SBA Minnesota Lenders