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May 9, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > St. Louis, Business Loans > Ge Cap. Small Business Finan Corp St. Louis Business Loans > Matco Tools Distributor Loan | ||||
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How Can I Buy a Franchise in Elk River, Minnesota?
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Ge Cap. Small Business Finan Corp Provides SBA Loan to Buy Matco Tools rent Tools FranchiseBorrowing money to purchase a Matco Tools rent Tools franchise? Ge Cap. Small Business Finan Corp has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Elk River, Minnesota needed money to invest in a Matco Tools rent Tools franchise back in 2002. Ge Cap. Small Business Finan Corp issued an SBA franchise loan. Here are the details on this Minnesota small business loan. SBA Loan Borrower MATCO TOOLS DISTRIBUTOR SBA Loan Lender GE CAP. SMALL BUSINESS FINAN CORP This was a Low Documentation SBA loan. The SBA launched 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. SIC Code 5963 - Direct Selling Establishments NAICS Code 454390 - Direct Selling Establishments Loan Approval Date 4/17/2002 Loan Approval Gross Amount $126,600 Loan Approval from the SBA Of the total $126,600 loan amount, the SBA guaranteed $107,610. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Matco Tools rent Tools franchise. At the time of the loan, the company had only one employee. This SBA loan request did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. We can help you find the best banks for small businesses in Elk River or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Role of Business Plan When Raising Money SBA 7A Lenders in St. Louis, Missouri
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