Borrow Money to Buy a Merlin's Muffler Franchise

Borrowing money to purchase a Merlin's Muffler franchise? Citizens Financial Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Aurora, Illinois and are interested in buying a Merlin's Muffler franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2004 by Citizens Financial Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

CLS AUTOMOTIVE, INC.
AURORA, IL 60506

SBA Loan Lender

CITIZENS FINANCIAL BANK
5311 HOHMAN AVE
HAMMOND, IN 46320

This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811198 - Automotive Repair and Maintenance

Loan Approval Date

1/7/2004

Loan Approval Gross Amount

$112,747

Loan Approval from the SBA

Of the total $112,747 loan amount, the SBA guaranteed $95,835.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Merlin's Muffler franchise. At the time of the loan, the company had 4 employees. This SBA loan request did not indicate that the business promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you need money to start a small business or already have a business and need money to expand, an SBA loan can be a great way to raise money

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Citizens Financial Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Citizens Financial Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Merlin Muffler & Brake

Obtaining Funding - Getting Venture Capital

Banks in Hammond, Indiana

Indiana SBA Bank Lenders