Bradenton, FL Entrepreneur Gets SBA Loan to Buy Cottman Transmission Franchise

Need money to purchase a Cottman Transmission franchise? Citicapital Small Business Finance has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Cottman Transmission franchise? If so, here's a 2000 SBA franchise loan that you should know about. Citicapital Small Business Finance was the lender and the entrepreneur was based in Bradenton, Florida.

SBA Loan Borrower

COTTMAN TRANSMISSION CENTER
BRADENTON, FL 34205

SBA Loan Lender

CITICAPITAL SMALL BUSINESS FINANCE
250 E CARPENTER FRWY, STE 115
IRVING, TX 75062

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

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

12/20/2000

Loan Approval Gross Amount

$108,500

Loan Approval from the SBA

Of the total $108,500 loan amount, the SBA guaranteed $81,375.

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 4 employees. The SBA loan documents did not indicate that the business promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

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:

Cottman Transmissions

Obtaining Funding - How to Decide How Much to Raise

Where to Get an SBA Loan in Irving, Texas

Texas SBA Banks