Enterprise Bank & Trust Provides SBA Loan to Buy Mobil Auto Restoration Service Franchise

Borrowing money to buy a Mobil Auto Restoration Service franchise? Enterprise Bank & Trust has a history of making these loans and they are guaranteed by the SBA.

Mobil Auto Restoration Service franchise loans are available to Sterling, Massachusetts entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Enterprise Bank & Trust, based in Leominster, Massachusetts, issued an SBA franchise loan for a Mobil Auto Restoration Service franchise in 2002. We've got all the details on this Massachusetts small business loan.

SBA Loan Borrower

MARS
STERLING, MA 01564

SBA Loan Lender

ENTERPRISE BANK & TRUST
4 CENTRAL ST
LEOMINSTER, MA 01453

This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with getting a loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7532 - Top and Body Repair and Paint Shops

NAICS Code

811121 - Automotive Body, Paint, and Interior Repair and Maintenance

Loan Approval Date

11/1/2002

Loan Approval Gross Amount

$70,000

Loan Approval from the SBA

Of the total $70,000 loan amount, the SBA guaranteed $59,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Mobil Auto Restoration Service franchise. At the time of the loan, the company had 101 employees. The SBA loan application for the borrower did not indicate that the company promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

This SBA loan was for $70,000. How would you spend $70,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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.

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