Financing for General Automotive Repair

Looking for loans for general automotive repair? Talk to a banker who works with the SBA. This $208,300 general automotive repair loan was issued by a Pennsylvania bank.

Getting a small business loan in Johnstown, Pennsylvania was important for this company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from First Commonwealth Bank, operating out of Hollidaysburg, Pennsylvania. Here are the details on this Pennsylvania small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
JOHNSTOWN, PA 15902

SBA Loan Lender

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

The lender provided this commercial 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.

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

10/20/2004

Loan Approval Gross Amount

$208,300

Loan Approval from the SBA

Of the total $208,300 loan amount, the SBA guaranteed $104,150.

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 indicated that the loan would help retain 3 existing jobs.

Start the Process for Getting an SBA Loan Today!

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into First Commonwealth Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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 Credit Cards

SBA 7A Banks for Hollidaysburg, Pennsylvania Loans

Pennsylvania SBA 7A Lenders