Get an SBA Loan for Used Car Dealers

Looking for loans for used car dealers? The SBA may be the answer. This $20,000 used car dealers loan was issued by an Oklahoma bank.

Getting a small business loan in Newcastle, Oklahoma was important for Hood Auto Sales LLC back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Arvest Bank, operating out of Tulsa, Oklahoma. Here are the details on this Oklahoma small business loan.

SBA Loan Borrower

Hood Auto Sales LLC
117 NW 32nd St.
Newcastle, OK 73065

SBA Loan Lender

ARVEST BANK
3409 S PEORIA AVE, STE 1
TULSA, OK 74105

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.

NAICS Code

441120 - Used Car Dealers

Loan Approval Date

3/1/2007

Loan Approval Gross Amount

$20,000

Loan Approval from the SBA

Of the total $20,000 loan amount, the SBA guaranteed $10,000.

More Information on This SBA Loan

The borrower, Hood Auto Sales 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 indicated that the loan would help retain 2 existing jobs.

Next Steps for Getting an SBA Loan

If you need money to start business in Newcastle OK, you ought to talk with a local Newcastle SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Newcastle businesses.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan to Hood Auto Sales LLC shows that any business with ambition and the right qualifications can get an SBA loan.

About This SBA Loan Information:

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

Related Links:

The Friends and Family Network

Banks in Tulsa, Oklahoma

Oklahoma SBA Banks

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