First Volunteer Bank - Tennessee Provides SBA Loan to Buy Cottman Transmission Franchise

Borrowing money to purchase a Cottman Transmission franchise? First Volunteer Bank - Tennessee has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Cottman Transmission franchise may simply require a phone call to a local SBA banker. In 2003, First Volunteer Bank - Tennessee issued an SBA franchise loan to an entrepreneur in Chattanooga, Tennessee. Because Cottman Transmission was registered with the SBA's registry of franchises, this Tennessee small business loan was issued on an expedited basis.

SBA Loan Borrower

COTTMAN TRANSMISSIONS
CHATTANOOGA, TN 37415

SBA Loan Lender

FIRST VOLUNTEER BANK - TENNESSEE
5109 HIXSON PIKE
HIXSON, TN 37343

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7537 - Automotive Transmission Repair Shops

NAICS Code

811113 - Automotive Transmission Repair

Loan Approval Date

4/15/2003

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $63,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Cottman Transmission franchise. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Many small businesses receive loans backed by the U.S. Small Business Administration.

This SBA loan was for $75,000. How would you spend $75,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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