Alma, GA Entrepreneur Gets SBA Loan to Buy Matco Tools rent Tools Franchise

Need money to buy a Matco Tools rent Tools franchise? First National Bank South 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 2005, First National Bank South issued an SBA franchise loan to an entrepreneur in Alma, Georgia. Because Matco Tools rent Tools was registered with the SBA's registry of franchises, this Georgia small business loan was issued on an expedited basis.

SBA Loan Borrower

MATCO TOOLS
ALMA, GA 31510

SBA Loan Lender

FIRST NATIONAL BANK SOUTH
423 W 12TH ST
ALMA, GA 31510

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

441310 - Automotive Parts and Accessories Stores

Loan Approval Date

2/1/2005

Loan Approval Gross Amount

$125,380

Loan Approval from the SBA

Of the total $125,380 loan amount, the SBA guaranteed $106,573.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 loan application did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Although it's called an SBA loan, 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.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like First National Bank South 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.

Related Links:

Matco Tools

The Art of Bootstrapping

Who Lends Money to Small Businesses in Alma, Georgia

SBA Lenders in Georgia