How to Get a Loan for General Automotive Repair

With these business loans for general automotive repair, the SBA guarantees the lender that the loan will be repaid. This general automotive repair loan for $750,000 was given to a Pennsylvania entrepreneur in 2004.

This small business knew how to go about getting a business bank loan. Based in Philadelphia, Pennsylvania, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Susquehanna Bank Dv, based in Pottstown, Pennsylvania.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
PHILADELPHIA, PA 19138

SBA Loan Lender

SUSQUEHANNA BANK DV
HIGH & HANOVER STS
POTTSTOWN, PA 19464

This lender issued this SBA small business loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

7/16/2004

Loan Approval Gross Amount

$750,000

Loan Approval from the SBA

Of the total $750,000 loan amount, the SBA guaranteed $562,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 7 employees. The loan application did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans provide money to small business owners for working capital for other expenses.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $750,000 loan. Remember, if it to be, it is up to me!

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

Where to Get an SBA Loan in Pottstown, Pennsylvania

Pennsylvania SBA 7A Banks