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May 14, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Pittsburgh, Business Loans > National City Bank Pittsburgh Business Loans > General Automotive Repair Shops Loan | ||||
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Pennsylvania SBA Banks
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Pittsburgh, Pennsylvania Bank Lends Money to General Automotive Repair Shops Company in Mercer, PennsylvaniaThinking about meeting with a Pittsburgh, Pennsylvania bank about an SBA loan? Here's one Pennsylvania business loan, issued by a Pittsburgh bank, that was approved by the SBA. Applying for an SBA loan with National City Bank worked out well for our friends at one local firm in Mercer, Pennsylvania. They received an SBA loan for $41,500. Nice! SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SHOPS SBA Loan Lender NATIONAL CITY BANK This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. 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 6/20/2002 Loan Approval Gross Amount $41,500 Loan Approval from the SBA Of the total $41,500 loan amount, the SBA guaranteed $35,275. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had only one employee. This SBA loan request did not indicate that the small business promised to use the funding to add employees or retain any existing employees. Getting an SBA Loan For Your Business If you need business start up money in Mercer PA, you ought to talk with a local Mercer SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Mercer businesses. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. National City Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, National City Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: SBA Approved Banks in Pittsburgh, Pennsylvania
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