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April 25, 2024 |
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| Home > Small Business Lenders by State > Tennessee Business Loan Sources > Charlotte, Business Loans > Bank Of America Charlotte Business Loans > Mr Transmissions Loan | ||||
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How Can I Buy a Franchise in Johnson City, Tennessee?
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Johnson City, TN Entrepreneur Gets SBA Loan to Buy Mr. Transmission FranchiseNeed a loan to invest in a Mr. Transmission franchise? Bank Of America has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Mr. Transmission franchise shouldn't be too tough. In 2002, Bank Of America issued an SBA franchise loan to an entrepreneur in Johnson City, Tennessee. Because Mr. Transmission was registered with the SBA's registry of franchises, this Tennessee small business loan was issued on an expedited basis. SBA Loan Borrower MR TRANSMISSIONS SBA Loan Lender BANK OF AMERICA This lender processed this bank loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 811113 - Automotive Transmission Repair Loan Approval Date 6/19/2002 Loan Approval Gross Amount $30,000 Loan Approval from the SBA Of the total $30,000 loan amount, the SBA guaranteed $15,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Mr. Transmission franchise. At the time of the loan, the company had 4 employees. The SBA loan documents indicated that the loan would help retain 4 existing jobs. Getting an SBA Loan For Your Business The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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: Best Banks in Charlotte, North Carolina
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