Aberdeen, MD Entrepreneur Gets SBA Loan to Buy Maaco Auto Painting Center Franchise

Need a loan to buy a Maaco Auto Painting Center franchise? Comerica Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Maaco Auto Painting Center franchise? If so, here's a 2005 SBA franchise loan that you should know about. Comerica Bank was the lender and the entrepreneur was based in Aberdeen, Maryland.

SBA Loan Borrower

MAACO COLLISON REPAIR&AUTO PAI
ABERDEEN, MD 21001

SBA Loan Lender

COMERICA BANK
2321 ROSECRANS AVE, STE 1225
EL SEGUNDO, CA 90245

This lender issued this business loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

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

Loan Approval Date

12/16/2005

Loan Approval Gross Amount

$325,110

Loan Approval from the SBA

Of the total $325,110 loan amount, the SBA guaranteed $243,833.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Maaco Auto Painting Center franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Comerica Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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