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April 19, 2024 |
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| Home > Small Business Lenders by State > Georgia Business Loan Sources > Livingston, Business Loans > Cit Small Business Lending Corp Livingston Business Loans > Midas Loan | ||||
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Tucker, Georgia Bank Loan
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Tucker, GA Entrepreneur Gets SBA Loan to Buy Midas Muffler Shop FranchiseNeed money to purchase a Midas Muffler Shop franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA. If you live near Tucker, Georgia and are interested in buying a Midas Muffler Shop franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2007 by Cit Small Business Lending Corp. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase. SBA Loan Borrower MIDAS SBA Loan Lender CIT SMALL BUSINESS LENDING CORP 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 11/21/2007 Loan Approval Gross Amount $349,000 Loan Approval from the SBA Of the total $349,000 loan amount, the SBA guaranteed $261,750. 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 9 employees. The SBA loan documents indicated that the loan would help retain 9 existing jobs. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $349,000 loan. Remember, fight for what you want, and it will be yours! 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 Banking Deregulation's Effects on Entrepreneurship Small Business Banks in Livingston, New Jersey
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