Illinois Entrepreneur Secures Financing to Buy Matco Tools rent Tools Franchise

Borrowing money to purchase a Matco Tools rent Tools franchise? Ge Cap. Small Business Finan Corp has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Matco Tools rent Tools franchise may simply require a phone call to a local SBA banker. In 2003, Ge Cap. Small Business Finan Corp issued an SBA franchise loan to an entrepreneur in Alhambra, Illinois. Because Matco Tools rent Tools was registered with the SBA's registry of franchises, this Illinois small business loan was issued on an expedited basis.

SBA Loan Borrower

MATCO TOOLS DISTRIBUTOR
ALHAMBRA, IL 62001

SBA Loan Lender

GE CAP. SMALL BUSINESS FINAN CORP
635 MARYVILLE CENTRE DR, STE
ST. LOUIS, MO 63141

This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5999 - Retail Stores

NAICS Code

454390 - Direct Selling Establishments

Loan Approval Date

5/14/2003

Loan Approval Gross Amount

$121,300

Loan Approval from the SBA

Of the total $121,300 loan amount, the SBA guaranteed $103,105.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 documents did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Ge Cap. Small Business Finan Corp that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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