Financing for General Automotive Repair

Looking for loans for general automotive repair? Try the SBA. This $163,200 general automotive repair loan was issued by a Maryland bank.

This small firm knew how to go about getting a business bank loan. Based in Upper Marlboro, Maryland, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Pnc Bank, National Association, based in Laurel, Maryland.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
UPPER MARLBORO, MD 20772

SBA Loan Lender

PNC BANK, NATIONAL ASSOCIATION
517 MAIN ST
LAUREL, MD 20707

This lender issued this SBA small business loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 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

6/24/2004

Loan Approval Gross Amount

$163,200

Loan Approval from the SBA

Of the total $163,200 loan amount, the SBA guaranteed $122,400.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your 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.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Pnc Bank, National Association so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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