How to Get a Loan for New Car Dealers

Looking for business loans for new car dealers? An SBA loan may be just what you've been looking for. This $400,000 new car dealers loan was issued by a Georgia bank.

Getting a small business loan in Waycross, Georgia was important for this small business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from The Heritage Bank, operating out of Waycross, Georgia. Here are the details on this Georgia small business loan.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE DEALERS
WAYCROSS, GA 31502

SBA Loan Lender

THE HERITAGE BANK
810 PLANT AVE
WAYCROSS, GA 31501

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5599 - Automotive Dealers

NAICS Code

441110 - New Car Dealers

Loan Approval Date

5/29/2002

Loan Approval Gross Amount

$400,000

Loan Approval from the SBA

Of the total $400,000 loan amount, the SBA guaranteed $300,000.

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 20 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

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:

Realistic Debt Financing Options

SBA Approved Banks in Waycross, Georgia

SBA Georgia Banks