Auburn, NY Entrepreneur Gets SBA Loan to Buy Aamco Transmissions Franchise

Borrowing money to buy an Aamco Transmissions franchise? Five Star Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy an Aamco Transmissions franchise may simply require a phone call to a local SBA banker. In 2004, Five Star Bank issued an SBA franchise loan to an entrepreneur in Auburn, New York. Because Aamco Transmissions was registered with the SBA's registry of franchises, this New York small business loan was issued on an expedited basis.

SBA Loan Borrower

CARR'S TRANSMISSION SERVICE IN
AUBURN, NY 13021

SBA Loan Lender

FIVE STAR BANK
2 SENECA ST
GENEVA, NY 14456

This lender issued this particular commercial loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

5/20/2004

Loan Approval Gross Amount

$112,500

Loan Approval from the SBA

Of the total $112,500 loan amount, the SBA guaranteed $95,625.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy an Aamco Transmissions franchise. At the time of the loan, the company had 5 employees. The SBA loan documents did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

AAMCO Transmissions, Inc.

Accountant's Role in Securing Financing

Banks in Geneva, New York

Getting an SBA Loan in New York