Bank Loans for Motor Vehicle Dealers

Looking for bank loans for motor vehicle dealers? Talk to a banker who works with the SBA. This $150,000 motor vehicle dealers loan was issued by a Georgia bank.

This company received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Suntrust Bank, out of Augusta, Georgia. The loan was granted and they received $150,000 to help grow their Augusta, Georgia business.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE DEALERS
AUGUSTA, GA 30909

SBA Loan Lender

SUNTRUST BANK
801 BROAD ST
AUGUSTA, GA 30901

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

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

8/29/2001

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 6 employees. The loan application did not indicate that the company planned to use the money to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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

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 Suntrust Bank 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.

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