Hancock Bank Provides SBA Loan to Buy Meineke Discount Muffler Franchise

Need money to invest in a Meineke Discount Muffler franchise? Hancock Bank has a history of making these loans and they are guaranteed by the SBA.

Meineke Discount Muffler franchise loans are available to Biloxi, Mississippi entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Hancock Bank, based in Gulfport, Mississippi, issued an SBA franchise loan for a Meineke Discount Muffler franchise in 2006. We've got all the details on this Mississippi small business loan.

SBA Loan Borrower

JUST BRK LLC
BILOXI, MS 39532

SBA Loan Lender

HANCOCK BANK
2510 14TH ST
GULFPORT, MS 39501

This lender issued this bank loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

9/21/2006

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Meineke Discount Muffler franchise. At the time of the loan, the company had 3 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 4 existing jobs.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

This SBA loan was for $150,000. How would you spend $150,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Meineke Car Care Centers

Startup Funding Tip

Where to Get an SBA Loan in Gulfport, Mississippi

Mississippi SBA 7A Banks