Borrow Money to Buy a Midas Muffler Shop Franchise

Borrowing money to buy a Midas Muffler Shop franchise? Spencer Savings Bank has a history of making these loans and they are guaranteed by the SBA.

Midas Muffler Shop franchise loans are available to Auburn, Massachusetts entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Spencer Savings Bank, based in Worcester, Massachusetts, issued an SBA franchise loan for a Midas Muffler Shop franchise in 2007. We've got all the details on this Massachusetts small business loan.

SBA Loan Borrower

RYCORP EAST, INC.
AUBURN, MA 01501

SBA Loan Lender

SPENCER SAVINGS BANK
400 GROVE ST
WORCESTER, MA 01605

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811112 - Automotive Exhaust System Repair

Loan Approval Date

12/14/2007

Loan Approval Gross Amount

$388,000

Loan Approval from the SBA

Of the total $388,000 loan amount, the SBA guaranteed $291,000.

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. The SBA loan application for the borrower indicated that the loan would help generate 6 new jobs and retain 1 existing job.

Start the Process for Getting an SBA Loan Today!

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.

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer 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:

Midas International Corporation

Choosing VC Firms

Who Lends Money to Small Businesses in Worcester, Massachusetts

Where to Get an SBA Loan Massachusetts