Georgia Entrepreneur Secures Financing to Buy Matco Tools rent Tools Franchise

Borrowing money to buy a Matco Tools rent Tools franchise? Southeastern Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Blackshear, Georgia needed money to invest in a Matco Tools rent Tools franchise back in 2004. Southeastern Bank issued an SBA franchise loan. Here are the details on this Georgia small business loan.

SBA Loan Borrower

MATCO TOOLS
BLACKSHEAR, GA 31516

SBA Loan Lender

SOUTHEASTERN BANK
1010 NORTHWAY ST
DARIEN, GA 31305

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

333515 - Cutting Tool and Machine Tool Accessory Manufacturing

Loan Approval Date

6/21/2004

Loan Approval Gross Amount

$80,069

Loan Approval from the SBA

Of the total $80,069 loan amount, the SBA guaranteed $68,058.

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 did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $80,069 loan. Remember, anyone can do it... so why not 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:

Matco Tools

The Friends and Family Network

SBA Approved Banks in Darien, Georgia

Getting a Business Loan in Georgia