Raising Money for Automobile and Motor Vehicle Wholesalers

Looking for bank loans for automobile and motor vehicle wholesalers? The SBA may be the answer. This $75,000 automobile and motor vehicle wholesalers loan was issued by a Wisconsin bank.

This small firm received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Community Bank & Trust, out of Sheboygan, Wisconsin. The loan was granted and they received $75,000 to help grow their Sheboygan, Wisconsin business.

SBA Loan Borrower

COMPANY TYPE: AUTOMOBILES AND OTHER MOTOR VEHICLES
SHEBOYGAN, WI 53083

SBA Loan Lender

COMMUNITY BANK & TRUST
604 N EIGHTH ST
SHEBOYGAN, WI 53081

This business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

SIC Code

5012 - Automobiles and Other Motor Vehicles

NAICS Code

421110 - Automobile and Motor Vehicle Wholesalers

Loan Approval Date

3/21/2000

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $37,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower indicated that the funding would help create 1 new job.

Start the Process for Getting an SBA Loan Today!

If you are wondering how to raise money for a business in Sheboygan WI, you ought to talk with a local Sheboygan SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Sheboygan businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Business Line of Credit

SBA Participating Banks in Sheboygan, Wisconsin

SBA Lenders in Wisconsin