Financing for Automotive Parts and Accessories Stores

Looking for commercial loans for automotive parts and accessories stores? An SBA loan may be just what you've been looking for. This $188,000 automotive parts and accessories stores loan was issued by a Maryland bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Glen Burnie, Maryland was able to borrow $188,000 from Pnc Bank, National Association. The SBA made the loan possible by guaranteeing $94,000 of this Maryland small business loan.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE PARTS AND ACCESSORIES STORES
GLEN BURNIE, MD 21060

SBA Loan Lender

PNC BANK, NATIONAL ASSOCIATION
517 MAIN ST
LAUREL, MD 20707

This lender processed this loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

441310 - Automotive Parts and Accessories Stores

Loan Approval Date

9/16/2005

Loan Approval Gross Amount

$188,000

Loan Approval from the SBA

Of the total $188,000 loan amount, the SBA guaranteed $94,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 7 employees. The loan application indicated that the loan would help generate 8 new jobs and retain 15 existing jobs.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Pnc Bank, National Association had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Pnc Bank, National Association made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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.

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SBA Participating Banks in Laurel, Maryland

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