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May 11, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Boonville, Business Loans > Community Bank Boonville Business Loans > Automotive Dealers Loan | ||||
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Webb, New York Bank Loan
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Borrowing Money for Motor Vehicle DealersLooking for small business loans for motor vehicle dealers? Talk to a banker who works with the SBA. This $140,000 motor vehicle dealers loan was issued by a New York bank. This small firm knew how to go about getting a business bank loan. Based in Webb, New York, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Community Bank, based in Boonville, New York. SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE DEALERS SBA Loan Lender COMMUNITY BANK This debt financing was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5599 - Automotive Dealers NAICS Code 441229 - Motor Vehicle Dealers Loan Approval Date 9/24/2002 Loan Approval Gross Amount $140,000 Loan Approval from the SBA Of the total $140,000 loan amount, the SBA guaranteed $119,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower did not indicate that the company promised to use the money to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: Best Banks in Boonville, New York
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