Belding, MI Entrepreneur Gets SBA Loan to Buy Matco Tools rent Tools Franchise

Need a loan to buy a Matco Tools rent Tools franchise? Merrill Lynch Bank Usa has a history of making these loans and they are guaranteed by the SBA.

Matco Tools rent Tools franchise loans are available to Belding, Michigan entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Merrill Lynch Bank Usa, based in Salt Lake City, Utah, issued an SBA franchise loan for a Matco Tools rent Tools franchise in 2003. We've got all the details on this Michigan small business loan.

SBA Loan Borrower

MATCO TOOLS
BELDING, MI 48809

SBA Loan Lender

MERRILL LYNCH BANK USA
15 W SOUTH TEMPLE, STE 300
SALT LAKE CITY, UT 84101

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

454390 - Direct Selling Establishments

Loan Approval Date

5/15/2003

Loan Approval Gross Amount

$114,200

Loan Approval from the SBA

Of the total $114,200 loan amount, the SBA guaranteed $97,070.

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 SBA loan documents indicated that the loan would help retain 1 existing job.

Great, But How Can I Get an SBA Loan for My Business?

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

We can help you find the best banks for small businesses in Belding or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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.

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