General Automotive Repair Bank Loans

Looking for bank loans for general automotive repair? An SBA loan may be just what you've been looking for. This $185,000 general automotive repair loan was issued by a Maryland bank.

This small firm knew how to go about getting a business bank loan. Based in Gaithersburg, Maryland, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Pnc Bank, National Association, based in Gaithersburg, Maryland.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SHOPS
GAITHERSBURG, MD 20879

SBA Loan Lender

PNC BANK, NATIONAL ASSOCIATION
702 RUSSELL AVE, STE 200
GAITHERSBURG, MD 20877

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7538 - General Automotive Repair Shops

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

11/22/2000

Loan Approval Gross Amount

$185,000

Loan Approval from the SBA

Of the total $185,000 loan amount, the SBA guaranteed $138,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 8 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

This SBA loan was for $185,000. How would you spend $185,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Small Business Loan

SBA Approved Banks in Gaithersburg, Maryland

Where to Get an SBA Loan Maryland