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April 25, 2024 |
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| Home > Small Business Lenders by State > Mississippi Business Loan Sources > New Orleans, Business Loans > Gulf Coast Bank & Trust New Orleans Business Loans > Moore Chevrolet Loan | ||||
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Where to Get an SBA 7A Loan to Purchase a Franchise
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Borrow Money to Buy a Gmc dealers FranchiseNeed a loan to purchase a Gmc dealers franchise? Gulf Coast Bank & Trust has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Gmc dealers franchise shouldn't be overly burdensome. In 2005, Gulf Coast Bank & Trust issued an SBA franchise loan to an entrepreneur in Senatobia, Mississippi. Because Gmc dealers was registered with the SBA's registry of franchises, this Mississippi small business loan was issued on an expedited basis. SBA Loan Borrower MOORE CHEVROLET SBA Loan Lender GULF COAST BANK & TRUST Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 423110 - Automobile and Motor Vehicle Merchant Wholesalers Loan Approval Date 10/25/2005 Loan Approval Gross Amount $630,000 Loan Approval from the SBA Of the total $630,000 loan amount, the SBA guaranteed $472,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Gmc dealers franchise. At the time of the loan, the company had 18 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 20 existing jobs. Getting an SBA Loan For Your Business Every year, the SBA guarantees over $10 billion for loans just like this one. We've showcased information on this loan to let you know that businesses like yours 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: SBA 7A Lenders in New Orleans, Louisiana
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