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May 16, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Henderson, Business Loans > Washington Mutual Bank Henderson Business Loans > New Car Dealers Loan | ||||
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SBA 7A Banks for North Bergen Small Business Owners
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How to Get a Loan for New Car DealersWith these commercial loans for new car dealers, the SBA guarantees the lender that the loan will be repaid. This new car dealers loan for $30,000 was given to a New Jersey entrepreneur in 2006. This business received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Washington Mutual Bank, out of Henderson, Nevada. The loan was granted and they received $30,000 to help grow their North Bergen, New Jersey business. SBA Loan Borrower COMPANY TYPE: NEW CAR DEALERS SBA Loan Lender WASHINGTON MUTUAL BANK The lender provided this SBA loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 441110 - New Car Dealers Loan Approval Date 2/14/2006 Loan Approval Gross Amount $30,000 Loan Approval from the SBA Of the total $30,000 loan amount, the SBA guaranteed $15,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help generate 1 new job and retain 1 existing job. Getting an SBA Loan For Your Business 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. 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. Related Links: How Much Venture Capital Is There?
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