Used Car Dealers Bank Loans
Looking for bank loans for used car dealers? The SBA may be the answer. This $4,500 used car dealers loan was issued by a North Carolina bank.
Getting a small business loan in Austin, Texas was important for Bobby Rice Auto Sales back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Bank Of America, operating out of Charlotte, North Carolina. Here are the details on this Texas small business loan.
SBA Loan Borrower
BOBBY RICE AUTO SALES
811 S LAMAR BLVD
AUSTIN, TX 78704
SBA Loan Lender
BANK OF AMERICA
100 N TRYON ST
CHARLOTTE, NC 28255
The lender provided this SBA business 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
441120 - Used Car Dealers
Loan Approval Date
5/15/2007
Loan Approval Gross Amount
$4,500
Loan Approval from the SBA
Of the total $4,500 loan amount, the SBA guaranteed $2,250.
More Information on This SBA Loan
The borrower, Bobby Rice Auto Sales, 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. This SBA loan request indicated that the loan would help retain 4 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
SBA loans provide money to small business owners for working capital for other expenses.
Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. If a firm like Bobby Rice Auto Sales is able to get a $4,500 loan, why not give getting an SBA loan of your own a try?
About This SBA Loan Information:
All SBA loan data displayed above comes from the government's SBA loan database.
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