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April 27, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Irving, Business Loans > Citicapital Small Business Finance Irving Business Loans > Authorized Distributor Matco T Loan | ||||
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Where to Get an SBA 7A Loan to Purchase a Franchise
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Loan to Buy Matco Tools rent Tools Franchise Issued By Citicapital Small Business FinanceBorrowing money to invest in a Matco Tools rent Tools franchise? Citicapital Small Business Finance has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Matco Tools rent Tools franchise requires some effort but others before you have been successful. In 2000, Citicapital Small Business Finance issued an SBA franchise loan to an entrepreneur in Glen Carbon, Illinois. Because Matco Tools rent Tools was registered with the SBA's registry of franchises, this Illinois small business loan was issued on an expedited basis. SBA Loan Borrower AUTHORIZED DISTRIBUTOR MATCO T SBA Loan Lender CITICAPITAL SMALL BUSINESS FINANCE Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5531 - Auto and Home Supply Stores Loan Approval Date 5/12/2000 Loan Approval Gross Amount $57,000 Loan Approval from the SBA Of the total $57,000 loan amount, the SBA guaranteed $45,600. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Matco Tools rent Tools franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help generate 1 new job and retain 1 existing job. Getting an SBA Loan For Your Business Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. This SBA loan was for $57,000. How would you spend $57,000 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. Related Links: The Friends and Family Network Small Business Banks in Irving, Texas
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