Illinois Entrepreneur Secures Financing to Buy Merlin's Muffler Franchise

Need money to invest in a Merlin's Muffler franchise? Business Lenders, LLC has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Merlin's Muffler franchise may simply require a phone call to a local SBA banker. In 2004, Business Lenders, LLC issued an SBA franchise loan to an entrepreneur in Palatine, Illinois. Because Merlin's Muffler was registered with the SBA's registry of franchises, this Illinois small business loan was issued on an expedited basis.

SBA Loan Borrower

MERLIN'S MUFFLER & BRAKE SHOP
PALATINE, IL 60074

SBA Loan Lender

BUSINESS LENDERS, LLC
50 STATE HOUSE SQUARE 5TH FL
HARTFORD, CT 06103

This lender provides SBA debt financing as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811112 - Automotive Exhaust System Repair

Loan Approval Date

12/23/2004

Loan Approval Gross Amount

$193,300

Loan Approval from the SBA

Of the total $193,300 loan amount, the SBA guaranteed $144,975.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Merlin's Muffler franchise. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower indicated that the loan would help retain 5 existing jobs.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

We can help you find the best banks for small businesses in Palatine or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Merlin Muffler & Brake

Find Start-Up Capital

Best Banks in Hartford, Connecticut

Connecticut SBA 7A Banks