Birdsboro, PA Entrepreneur Gets SBA Loan to Buy Lee Myles Automotive Transmissions Franchise

Borrowing money to buy a Lee Myles Automotive Transmissions franchise? National Penn Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Lee Myles Automotive Transmissions franchise? If so, here's a 2003 SBA franchise loan that you should know about. National Penn Bank was the lender and the entrepreneur was based in Birdsboro, Pennsylvania.

SBA Loan Borrower

SIXSEVEN INC
BIRDSBORO, PA 19508

SBA Loan Lender

NATIONAL PENN BANK
PHILADELPHIA & READING AVES
BOYERTOWN, PA 19512

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

811113 - Automotive Transmission Repair

Loan Approval Date

12/12/2003

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Lee Myles Automotive Transmissions franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the funding would help generate 5 new jobs.

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

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $50,000 loan. Remember, feel the fear, and do it anyway.

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:

Lee Myles Transmissions and Autocare

SBIR Funding

SBA 7A Banks for Boyertown, Pennsylvania Loans

Pennsylvania SBA 7A Lenders