Loan to Buy Midas Muffler Shop Franchise Issued By Cit Small Business Lending Corp
Need money to invest in a Midas Muffler Shop franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.
Getting money to buy a Midas Muffler Shop franchise shouldn't be overly burdensome. In 2007, Cit Small Business Lending Corp issued an SBA franchise loan to an entrepreneur in Anthem, Arizona. Because Midas Muffler Shop was registered with the SBA's registry of franchises, this Arizona small business loan was issued on an expedited basis.
SBA Loan Borrower
MIDAS MUFFLER SHOPS
ANTHEM, AZ 85086
SBA Loan Lender
CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039
As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
811111 - General Automotive Repair
Loan Approval Date
9/10/2007
Loan Approval Gross Amount
$594,000
Loan Approval from the SBA
Of the total $594,000 loan amount, the SBA guaranteed $445,500.
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 7 employees. This SBA loan request indicated that the loan would help generate 7 new jobs.
Getting an SBA Loan For Your Business
The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.
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 $594,000 loan. Remember, feel the fear, and do it anyway.
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
Financing Your Business
SBA 7A Banks in Livingston, New Jersey
SBA New Jersey Banks