Borrow Money to Buy a Mac Tools Franchise

Borrowing money to invest in a Mac Tools franchise? Irwin Union Bank & Trust has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Mac Tools franchise is doable. In 2003, Irwin Union Bank & Trust issued an SBA franchise loan to an entrepreneur in Bloomington, Indiana. Because Mac Tools was registered with the SBA's registry of franchises, this Indiana small business loan was issued on an expedited basis.

SBA Loan Borrower

MAC-TOOLS DISH
BLOOMINGTON, IN 47401

SBA Loan Lender

IRWIN UNION BANK & TRUST
333 W GRANDVIEW PKWY, STE 110
TRAVERSE CITY, MI 49684

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.

SIC Code

3541 - Machine Tools, Metal Cutting Types

NAICS Code

333512 - Machine Tool Manufacturing

Loan Approval Date

6/12/2003

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Mac Tools franchise. At the time of the loan, the company had only one employee. This SBA loan request did not indicate that the business planned to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Every year, the SBA guarantees over $10 billion for loans just like this one.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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