Get an SBA Loan for Automotive Parts and Accessories Stores
Looking for loans for automotive parts and accessories stores? The SBA may be the answer. This $60,000 automotive parts and accessories stores loan was issued by a Pennsylvania bank.
This small firm received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with National City Bank, out of Pittsburgh, Pennsylvania. The loan was granted and they received $60,000 to help grow their Erie, Pennsylvania business.
SBA Loan Borrower
COMPANY TYPE: AUTO AND HOME SUPPLY STORES
ERIE, PA 16502
SBA Loan Lender
NATIONAL CITY BANK
118 ALLEGHENY CTR MALL
PITTSBURGH, PA 15212
This lender issued this particular SBA small business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.
SBA Loan Program Type
This loan was issued as a general business loan.
5531 - Auto and Home Supply Stores
441310 - Automotive Parts and Accessories Stores
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $60,000 loan amount, the SBA guaranteed $51,000.
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 7 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the loan proceeds to add employees or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.
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 National City 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.
Best Banks for Small Business in Pittsburgh, Pennsylvania
Getting an SBA Loan in Pennsylvania