Used Car Dealers Commercial Loans

With these commercial loans for used car dealers, the SBA guarantees the lender that the loan will be repaid. This used car dealers loan for $225,000 was given to an Oklahoma entrepreneur in 2001.

Heritage Auto Sales LLC received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Security Bank, out of Pawnee, Oklahoma. The loan was granted and they received $225,000 to help grow their Tulsa, Oklahoma business.

SBA Loan Borrower

HERITAGE AUTO SALES LLC
4423 S. MEMORIAL DRIVE
TULSA, OK 74145

SBA Loan Lender

SECURITY BANK
551 HARRISON ST
PAWNEE, OK 74058

This lender issued this bank loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5521 - Motor Vehicle Dealers (Used Only)

NAICS Code

441120 - Used Car Dealers

Loan Approval Date

1/9/2001

Loan Approval Gross Amount

$225,000

Loan Approval from the SBA

Of the total $225,000 loan amount, the SBA guaranteed $168,750.

More Information on This SBA Loan

The borrower, Heritage 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 30 employees. The SBA loan application for the borrower did not indicate that the business planned to use the money to hire new employees or retain any existing employees.

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

Many small businesses receive loans backed by the U.S. Small Business Administration.

We can help you find the best banks for small businesses in Tulsa or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

About This SBA Loan Information:

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

Related Links:

Getting a Small Business Loan

Best Pawnee, Oklahoma Banks for Small Business

SBA Participating Banks in Oklahoma

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