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April 30, 2024 |
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| Home > Small Business Lenders by State > Missouri Business Loan Sources > Livingston, Business Loans > Cit Small Business Lending Corp Livingston Business Loans > Maaco Loan | ||||
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Business Loans for Kansas City Small Business Owners
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Missouri Entrepreneur Secures Financing to Buy Maaco Auto Painting Center FranchiseNeed a loan to buy a Maaco Auto Painting Center franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA. Want to borrow money to buy a Maaco Auto Painting Center franchise? If so, here's a 2005 SBA franchise loan that you should know about. Cit Small Business Lending Corp was the lender and the entrepreneur was based in Kansas City, Missouri. SBA Loan Borrower MAACO SBA Loan Lender CIT SMALL BUSINESS LENDING CORP Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 488410 - Motor Vehicle Towing Loan Approval Date 10/13/2005 Loan Approval Gross Amount $209,000 Loan Approval from the SBA Of the total $209,000 loan amount, the SBA guaranteed $156,750. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Maaco Auto Painting Center franchise. At the time of the loan, the company had 11 employees. The loan application indicated that the loan would help retain 9 existing jobs. Great, But How Can I Get an SBA Loan for My 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. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Cit Small Business Lending Corp are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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: Good Banks for Small Business in Livingston, New Jersey
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