Business Loan from First Commonwealth Bank Given to Automotive Body, Paint, And Interior Repair And Maintenance Company
First Commonwealth Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Pennsylvania entrepreneur who tapped into the power of SBA loans.
This small firm knew how to go about getting a business bank loan. Based in Mckees Rocks, Pennsylvania, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was First Commonwealth Bank, based in Hollidaysburg, Pennsylvania.
SBA Loan Borrower
COMPANY TYPE: AUTOMOTIVE BODY, PAINT, AND INTERIOR REPAIR AND MAINTENANCE
MCKEES ROCKS, PA 15136
SBA Loan Lender
FIRST COMMONWEALTH BANK
RTE 220 & N JUNIATA ST
HOLLIDAYSBURG, PA 16648
The lender provided this small business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.
SBA Loan Program Type
This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.
NAICS Code
811121 - Automotive Body, Paint, and Interior Repair and Maintenance
Loan Approval Date
12/10/2004
Loan Approval Gross Amount
$117,000
Loan Approval from the SBA
Of the total $117,000 loan amount, the SBA guaranteed $58,500.
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 6 employees. This SBA loan request indicated that the loan would help retain 6 existing jobs.
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.
The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like First Commonwealth Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.
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:
Getting a Small Business Loan
SBA 7A Banks for Hollidaysburg, Pennsylvania Loans
SBA Pennsylvania Banks