Raising Money for Motor Vehicle Dealers

Looking for business loans for motor vehicle dealers? An SBA loan may be just what you've been looking for. This $200,000 motor vehicle dealers loan was issued by an Oklahoma bank.

Action Toys, LLC received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Community Bank & Trust Company, out of Tulsa, Oklahoma. The loan was granted and they received $200,000 to help grow their Broken Arrow, Oklahoma business.

SBA Loan Borrower

ACTION TOYS, LLC
406 E KENOHA
BROKEN ARROW, OK 74012

SBA Loan Lender

COMMUNITY BANK & TRUST COMPANY
8908 S YALE, STE 100-91ST
TULSA, OK 74105

This commercial loan was sent in by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a thorough analysis of the loan application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

441229 - All Other Motor Vehicle Dealers

Loan Approval Date

9/10/2002

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $150,000.

More Information on This SBA Loan

The borrower, Action Toys, LLC, borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees. This loan was paid in full, and was closed out on 11/30/2007.

Great, But How Can I Get an SBA Loan for My Business?

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Community Bank & Trust Company that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's SBA loan database.

Related Links:

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SBA 7A Banks in Tulsa, Oklahoma

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