Bolingbrook, IL Entrepreneur Gets SBA Loan to Buy Meineke Discount Muffler Franchise

Borrowing money to purchase a Meineke Discount Muffler franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Meineke Discount Muffler franchise shouldn't be overly burdensome. In 2002, Cit Small Business Lending Corp issued an SBA franchise loan to an entrepreneur in Bolingbrook, Illinois. Because Meineke Discount Muffler was registered with the SBA's registry of franchises, this Illinois small business loan was issued on an expedited basis.

SBA Loan Borrower

MEINEKE CAR CARE SERVICE
BOLINGBROOK, IL 60440

SBA Loan Lender

CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide commercial loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811112 - Automotive Exhaust System Repair

Loan Approval Date

2/27/2002

Loan Approval Gross Amount

$499,000

Loan Approval from the SBA

Of the total $499,000 loan amount, the SBA guaranteed $374,250.

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 8 employees. The SBA loan documents did not indicate that the business promised to use the funding to add employees or retain any existing employees.

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

If you need money to start business in Bolingbrook IL, you ought to talk with a local Bolingbrook SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Bolingbrook businesses.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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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