 |
 |
May 2, 2024 |
|
|
|
|
||
| Home > Small Business Lenders by State > Iowa Business Loan Sources > Irving, Business Loans > Citicapital Small Business Finance Irving Business Loans > Cottman Transmission Center Loan | ||||
 |
||||
Citicapital Small Business Finance Commercial Loans for Franchisees
|
||||
 |
Sioux City, IA Entrepreneur Gets SBA Loan to Buy Cottman Transmission FranchiseNeed a loan to buy a Cottman Transmission franchise? Citicapital Small Business Finance has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Sioux City, Iowa needed money to invest in a Cottman Transmission franchise back in 2001. Citicapital Small Business Finance issued an SBA franchise loan. Here are the details on this Iowa small business loan. SBA Loan Borrower COTTMAN TRANSMISSION CENTER SBA Loan Lender CITICAPITAL SMALL BUSINESS FINANCE This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811111 - General Automotive Repair Loan Approval Date 9/24/2001 Loan Approval Gross Amount $117,000 Loan Approval from the SBA Of the total $117,000 loan amount, the SBA guaranteed $99,450. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Cottman Transmission franchise. At the time of the loan, the company had 3 employees. The loan application did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide money to small business owners for working capital for other expenses. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Citicapital Small Business Finance and they will explain how you can get an SBA loan for your company. 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 - Getting Venture Capital
|
|
||
|
||||
|
|
||||