Loan Census Banking News and Information
March 28, 2024  
 
 
  Business Loan Information  
 

SBA 7A Banks for Paramus, New Jersey Small Businesses

 

 
Loan Census SBA Loan Info

Borrow Money to Buy a Midas Muffler Shop Franchise

Need a loan to invest in a Midas Muffler Shop franchise? Pnc Bank, National Association has a history of making these loans and they are guaranteed by the SBA.

Midas Muffler Shop franchise loans are available to Paramus, New Jersey entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Pnc Bank, National Association, based in Somerset, New Jersey, issued an SBA franchise loan for a Midas Muffler Shop franchise in 2003. We've got all the details on this New Jersey small business loan.

SBA Loan Borrower

MIDAS AUTO SERVICE EXPERTS
PARAMUS, NJ 07652

SBA Loan Lender

PNC BANK, NATIONAL ASSOCIATION
675 FRANKLIN BLVD
SOMERSET, NJ 08873

This lender provides SBA commercial loans 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

811111 - General Automotive Repair

Loan Approval Date

2/28/2003

Loan Approval Gross Amount

$483,000

Loan Approval from the SBA

Of the total $483,000 loan amount, the SBA guaranteed $362,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Midas Muffler Shop franchise. At the time of the loan, the company had 8 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 8 existing jobs.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Pnc Bank, National Association so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Midas International Corporation

Raising VC Money for Social Networking Companies

Find an SBA Lender in Somerset, New Jersey

Find an SBA Lender in New Jersey