Automotive Parts and Accessories Stores SBA Loans

With these SBA loans for automotive parts and accessories stores, the SBA guarantees the lender that the loan will be repaid. This automotive parts and accessories stores loan for $30,000 was given to a Pennsylvania entrepreneur in 2003.

This business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Dollar Bank A Fed. Savings Bk, out of Pittsburgh, Pennsylvania. The loan was granted and they received $30,000 to help grow their Pittsburgh, Pennsylvania business.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE PARTS, USED
PITTSBURGH, PA 15234

SBA Loan Lender

DOLLAR BANK A FED. SAVINGS BK
THREE GATEWAY CTR-1 EAST
PITTSBURGH, PA 15222

This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with appliying for an SBA 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. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5015 - Motor Vehicle Parts, Used

NAICS Code

441310 - Automotive Parts and Accessories Stores

Loan Approval Date

5/21/2003

Loan Approval Gross Amount

$30,000

Loan Approval from the SBA

Of the total $30,000 loan amount, the SBA guaranteed $25,500.

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. The SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Dollar Bank A Fed. Savings Bk that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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