Illinois Entrepreneur Secures Financing to Buy Aamco Transmissions Franchise

Need money to purchase an Aamco Transmissions franchise? Lasalle Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy an Aamco Transmissions franchise shouldn't be too tough. In 2004, Lasalle Bank issued an SBA franchise loan to an entrepreneur in Highland Park, Illinois. Because Aamco Transmissions was registered with the SBA's registry of franchises, this Illinois small business loan was issued on an expedited basis.

SBA Loan Borrower

AAMCO TRANSMISSION
HIGHLAND PARK, IL 60035

SBA Loan Lender

LASALLE BANK
135 S LASALLE ST
CHICAGO, IL 60603

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

5/12/2004

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $150,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy an Aamco Transmissions franchise. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help generate 4 new jobs and retain 1 existing job.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

AAMCO Transmissions, Inc.

Attracting Investors

SBA 7A Banks for Chicago, Illinois Loans

Illinois SBA Bank Lenders