Borrowing Money for General Automotive Repair

With these bank loans for general automotive repair, the SBA guarantees the lender that the loan will be repaid. This general automotive repair loan for $10,000 was given to a Pennsylvania entrepreneur in 2000.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Huntingdon, Pennsylvania was able to borrow $10,000 from First Commonwealth Bank. The SBA made the loan possible by guaranteeing $5,000 of this Pennsylvania small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SHOPS
HUNTINGDON, PA 16652

SBA Loan Lender

FIRST COMMONWEALTH BANK
RTE 220 & N JUNIATA ST
HOLLIDAYSBURG, PA 16648

The lender provided this small business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

SIC Code

7538 - General Automotive Repair Shops

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

1/12/2000

Loan Approval Gross Amount

$10,000

Loan Approval from the SBA

Of the total $10,000 loan amount, the SBA guaranteed $5,000.

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 only one employee. The SBA loan documents indicated that the loan would help retain 1 existing job.

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

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

This SBA loan was for $10,000. How would you spend $10,000 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.

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Small Business Banks in Hollidaysburg, Pennsylvania

Getting an SBA Loan in Pennsylvania