Loan to Buy Matco Tools rent Tools Franchise Issued By Merrill Lynch Bank Usa

Need money to buy a Matco Tools rent Tools franchise? Merrill Lynch Bank Usa has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Midland, North Carolina needed money to invest in a Matco Tools rent Tools franchise back in 2002. Merrill Lynch Bank Usa issued an SBA franchise loan. Here are the details on this North Carolina small business loan.

SBA Loan Borrower

MATCO TOOLS
MIDLAND, NC 28107

SBA Loan Lender

MERRILL LYNCH BANK USA
15 W SOUTH TEMPLE, STE 300
SALT LAKE CITY, UT 84101

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

454390 - Direct Selling Establishments

Loan Approval Date

5/22/2002

Loan Approval Gross Amount

$126,300

Loan Approval from the SBA

Of the total $126,300 loan amount, the SBA guaranteed $107,355.

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 application for the borrower indicated that the loan would help retain 1 existing job.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans provide money to small business owners for working capital for other expenses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Merrill Lynch Bank Usa that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Matco Tools

Business Credit Evaluation

SBA 7A Banks for Salt Lake City, Utah Loans

SBA Participating Banks in Utah