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April 25, 2024 |
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| Home > Small Business Lenders by State > Alabama Business Loan Sources > San Francisco, Business Loans > Bank Of The West San Francisco Business Loans > Matco Tools Loan | ||||
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Advice for Borrowing Money to Buy a Franchise
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Loan to Buy Matco Tools rent Tools Franchise Issued By Bank Of The WestBorrowing money to invest in a Matco Tools rent Tools franchise? Bank Of The West has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Matco Tools rent Tools franchise shouldn't be too tough. In 2002, Bank Of The West issued an SBA franchise loan to an entrepreneur in Pelham, Alabama. Because Matco Tools rent Tools was registered with the SBA's registry of franchises, this Alabama small business loan was issued on an expedited basis. SBA Loan Borrower MATCO TOOLS SBA Loan Lender BANK OF THE WEST This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 454390 - Direct Selling Establishments Loan Approval Date 8/1/2002 Loan Approval Gross Amount $119,000 Loan Approval from the SBA Of the total $119,000 loan amount, the SBA guaranteed $101,150. 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 did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees. 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. We can help you find the best banks for small businesses in Pelham 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: Role of Business Plan When Raising Money SBA 7A Banks for San Francisco, California Loans
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