Borrow Money to Buy a Mobil Auto Restoration Service Franchise

Need a loan to purchase a Mobil Auto Restoration Service franchise? National City Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Indianapolis, Indiana needed money to invest in a Mobil Auto Restoration Service franchise back in 2003. National City Bank issued an SBA franchise loan. Here are the details on this Indiana small business loan.

SBA Loan Borrower

HARRIS MOBILE APPEARENCE RECON
INDIANAPOLIS, IN 46220

SBA Loan Lender

NATIONAL CITY BANK
ONE NATIONAL CITY CENTER, STE
INDIANAPOLIS, IN 46255

This lender issued this particular loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7549 - Automotive Services

NAICS Code

811198 - Automotive Repair and Maintenance

Loan Approval Date

3/6/2003

Loan Approval Gross Amount

$62,500

Loan Approval from the SBA

Of the total $62,500 loan amount, the SBA guaranteed $53,125.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Mobil Auto Restoration Service franchise. At the time of the loan, the company had only one employee. The SBA loan documents did not indicate that the business promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

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 National City Bank 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:

Business Credit Evaluation

Who Lends Money to Small Businesses in Indianapolis, Indiana

Getting an SBA Loan in Indiana