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April 25, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Hartford, Business Loans > Business Lenders, LLC Hartford Business Loans > Merlin's Muffler & Brake Loan | ||||
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Business Loans for Glendale Heights Businesses
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Illinois Entrepreneur Secures Financing to Buy Merlin's Muffler FranchiseNeed a loan to buy a Merlin's Muffler franchise? Business Lenders, LLC has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Glendale Heights, Illinois needed money to invest in a Merlin's Muffler franchise back in 2003. Business Lenders, LLC issued an SBA franchise loan. Here are the details on this Illinois small business loan. SBA Loan Borrower MERLIN'S MUFFLER & BRAKE SBA Loan Lender BUSINESS LENDERS, LLC This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811112 - Automotive Exhaust System Repair Loan Approval Date 7/22/2003 Loan Approval Gross Amount $172,500 Loan Approval from the SBA Of the total $172,500 loan amount, the SBA guaranteed $129,375. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Merlin's Muffler franchise. At the time of the loan, the company had 3 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 1 existing job. Getting an SBA Loan For Your 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. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: SBA Banks in Hartford, Connecticut
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