Borrow Money to Buy an Aamco Transmissions Franchise

Borrowing money to purchase an Aamco Transmissions franchise? South Shore Co-Operative 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 2003, South Shore Co-Operative Bank issued an SBA franchise loan to an entrepreneur in Norwood, Massachusetts. Because Aamco Transmissions was registered with the SBA's registry of franchises, this Massachusetts small business loan was issued on an expedited basis.

SBA Loan Borrower

AAMCO TRANSMISSION
NORWOOD, MA 02062

SBA Loan Lender

SOUTH SHORE CO-OPERATIVE BANK
195 WASHINGTON ST
WEYMOUTH, MA 02188

This lender issued this loan for a small business under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7537 - Automotive Transmission Repair Shops

NAICS Code

488390 - Support Activities for Water Transportation

Loan Approval Date

6/26/2003

Loan Approval Gross Amount

$240,000

Loan Approval from the SBA

Of the total $240,000 loan amount, the SBA guaranteed $180,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy an Aamco Transmissions franchise. At the time of the loan, the company had 6 employees. The SBA loan documents did not indicate that the company planned to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer 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:

AAMCO Transmissions, Inc.

Borrowing Money from Friends and Family

Where to Get an SBA Loan in Weymouth, Massachusetts

Massachusetts SBA 7A Banks