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May 1, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Charlottesville, Business Loans > Sonabank, National Association Charlottesville Business Loans > Elite Auto Service Performance, Inc. T/a M Loan | ||||
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Stafford, Virginia Bank Loan
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Virginia Entrepreneur Secures Financing to Buy Meineke Discount Muffler FranchiseBorrowing money to purchase a Meineke Discount Muffler franchise? Sonabank, National Association has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Stafford, Virginia needed money to invest in a Meineke Discount Muffler franchise back in 2007. Sonabank, National Association issued an SBA franchise loan. Here are the details on this Virginia small business loan. SBA Loan Borrower ELITE AUTO SERVICE PERFORMANCE, INC. T/A M SBA Loan Lender SONABANK, NATIONAL ASSOCIATION 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 811111 - General Automotive Repair Loan Approval Date 7/20/2007 Loan Approval Gross Amount $720,000 Loan Approval from the SBA Of the total $720,000 loan amount, the SBA guaranteed $540,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Meineke Discount Muffler franchise. At the time of the loan, the company had 7 employees. This SBA loan request indicated that the loan would help generate 6 new jobs and retain 7 existing jobs. Start the Process for Getting an SBA Loan Today! Many small businesses receive loans backed by the U.S. Small Business Administration. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: SBA 7A Banks in Charlottesville, Virginia
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