Borrowing Money for Automotive Parts and Accessories Stores

Looking for loans for automotive parts and accessories stores? An SBA loan may be just what you've been looking for. This $50,000 automotive parts and accessories stores loan was issued by a Pennsylvania bank.

This small firm knew how to go about getting a business bank loan. Based in Mercer, Pennsylvania, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Mercer County State Bank, based in Sandy Lake, Pennsylvania.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE PARTS AND ACCESSORIES STORES
MERCER, PA 16137

SBA Loan Lender

MERCER COUNTY STATE BANK
3279 S MAIN ST
SANDY LAKE, PA 16145

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

4/23/2003

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 4 employees. The loan application indicated that the funding would help create 4 new jobs.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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:

Obtaining Funding - How to Borrow Money

Best Banks in Sandy Lake, Pennsylvania

SBA Participating Banks in Pennsylvania