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April 29, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > San Jose, Business Loans > Wells Fargo Bank San Jose Business Loans > Meineke Car Care Center Of Mch Loan | ||||
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Best Banks for Franchise Loans in Illinois
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Borrow Money to Buy a Meineke Discount Muffler FranchiseNeed money to purchase a Meineke Discount Muffler franchise? Wells Fargo Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Mchenry, Illinois needed money to invest in a Meineke Discount Muffler franchise back in 2005. Wells Fargo Bank issued an SBA franchise loan. Here are the details on this Illinois small business loan. SBA Loan Borrower MEINEKE CAR CARE CENTER OF MCH SBA Loan Lender WELLS FARGO BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811112 - Automotive Exhaust System Repair Loan Approval Date 5/10/2005 Loan Approval Gross Amount $175,900 Loan Approval from the SBA Of the total $175,900 loan amount, the SBA guaranteed $131,925. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Meineke Discount Muffler 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 4 existing jobs. Getting an SBA Loan For Your 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. While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: Obtaining Funding - How to Borrow Money Good Banks for Small Business in San Jose, California
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