North Carolina Entrepreneur Secures Financing to Buy All Tune And Lube Franchise

Borrowing money to invest in an All Tune And Lube franchise? Cardinal State Bank has a history of making these loans and they are guaranteed by the SBA.

All Tune And Lube franchise loans are available to Raleigh, North Carolina entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Cardinal State Bank, based in Durham, North Carolina, issued an SBA franchise loan for an All Tune And Lube franchise in 2002. We've got all the details on this North Carolina small business loan.

SBA Loan Borrower

ALL TUNE & LUBE
RALEIGH, NC 27608

SBA Loan Lender

CARDINAL STATE BANK
3710 UNIVERSITY DR, STE 100
DURHAM, NC 27707

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7538 - General Automotive Repair Shops

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

7/5/2002

Loan Approval Gross Amount

$93,055

Loan Approval from the SBA

Of the total $93,055 loan amount, the SBA guaranteed $79,096.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy an All Tune And Lube franchise. At the time of the loan, the company had 4 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My 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.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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