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May 18, 2024 |
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| Home > Small Business Lenders by State > West Virginia Business Loan Sources > Irving, Business Loans > Citicapital Small Business Finance Irving Business Loans > Matco Tools Loan | ||||
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Advice for Getting a Franchise Loan
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Borrow Money to Buy a Matco Tools rent Tools FranchiseBorrowing money to invest in a Matco Tools rent Tools franchise? Citicapital Small Business Finance has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Matco Tools rent Tools franchise shouldn't be too tough. In 2000, Citicapital Small Business Finance issued an SBA franchise loan to an entrepreneur in Huntington, West Virginia. Because Matco Tools rent Tools was registered with the SBA's registry of franchises, this West Virginia small business loan was issued on an expedited basis. SBA Loan Borrower MATCO TOOLS SBA Loan Lender CITICAPITAL SMALL BUSINESS FINANCE This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5531 - Auto and Home Supply Stores Loan Approval Date 3/30/2000 Loan Approval Gross Amount $55,000 Loan Approval from the SBA Of the total $55,000 loan amount, the SBA guaranteed $18,397. 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. The SBA loan documents did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees. Next Steps for Getting an SBA Loan If you are wondering how to find money to start a business or need money to grow a business, an SBA loan can be a great source of funding. 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:
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