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May 17, 2024 |
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| Home > Small Business Lenders by State > West Virginia Business Loan Sources > Columbus, Business Loans > The Huntington National Bank Columbus Business Loans > Omni Muffler & Brake Service A Loan | ||||
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Best Banks for Huntington Franchises
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The Huntington National Bank Provides SBA Loan to Buy Cottman Transmission FranchiseNeed a loan to invest in a Cottman Transmission franchise? The Huntington National Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Huntington, West Virginia needed money to invest in a Cottman Transmission franchise back in 2002. The Huntington National Bank issued an SBA franchise loan. Here are the details on this West Virginia small business loan. SBA Loan Borrower OMNI MUFFLER & BRAKE SERVICE A SBA Loan Lender THE HUNTINGTON NATIONAL BANK This lender issued this SBA loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7533 - Automotive Exhaust System Repair Shops NAICS Code 811112 - Automotive Exhaust System Repair Loan Approval Date 8/28/2002 Loan Approval Gross Amount $156,100 Loan Approval from the SBA Of the total $156,100 loan amount, the SBA guaranteed $117,075. 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 5 employees. The loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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: How Much Venture Capital Is There?
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