Getting an SBA Loan for General Automotive Repair

Looking for commercial loans for general automotive repair? Try the SBA. This $170,000 general automotive repair loan was issued by a Pennsylvania bank.

This small business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Enterprise Bank, out of Allison Park, Pennsylvania. The loan was granted and they received $170,000 to help grow their Monroeville, Pennsylvania business.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SHOPS
MONROEVILLE, PA 15146

SBA Loan Lender

ENTERPRISE BANK
4091 MOUNT ROYAL BLVD
ALLISON PARK, PA 15101

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7538 - General Automotive Repair Shops

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

8/18/2004

Loan Approval Gross Amount

$170,000

Loan Approval from the SBA

Of the total $170,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The loan application did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

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

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 Enterprise 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.

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