Commercial Loans for Automotive Transmission Repair

With these commercial loans for automotive transmission repair, the SBA guarantees the lender that the loan will be repaid. This automotive transmission repair loan for $50,260 was given to a Pennsylvania entrepreneur in 2002.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Johnstown, Pennsylvania was able to borrow $50,260 from Ameriserv Financial Bank. The SBA made the loan possible by guaranteeing $42,721 of this Pennsylvania small business loan.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE TRANSMISSION REPAIR SHOPS
JOHNSTOWN, PA 15902

SBA Loan Lender

AMERISERV FINANCIAL BANK
1404 EISENHOWER BLVD
JOHNSTOWN, PA 15904

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7537 - Automotive Transmission Repair Shops

NAICS Code

811113 - Automotive Transmission Repair

Loan Approval Date

8/21/2002

Loan Approval Gross Amount

$50,260

Loan Approval from the SBA

Of the total $50,260 loan amount, the SBA guaranteed $42,721.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the small 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?

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

Business Incubators

Small Business Banks in Johnstown, Pennsylvania

SBA Lenders in Pennsylvania