Loan to Buy Tuffy Muffler Center Franchise Issued By 1st National Bank - Grant Pk

Need money to buy a Tuffy Muffler Center franchise? 1st National Bank - Grant Pk has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Tuffy Muffler Center franchise may simply require a phone call to a local SBA banker. In 2003, 1st National Bank - Grant Pk issued an SBA franchise loan to an entrepreneur in Bourbonnais, Illinois. Because Tuffy Muffler Center was registered with the SBA's registry of franchises, this Illinois small business loan was issued on an expedited basis.

SBA Loan Borrower

TUFFY AUTO SERVICE CENTER
BOURBONNAIS, IL 60914

SBA Loan Lender

1ST NATIONAL BANK - GRANT PK
119 N MAIN ST
GRANT PARK, IL 60940

This lender issued this particular commercial loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

12/17/2003

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Tuffy Muffler Center franchise. At the time of the loan, the company had 7 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.

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

Many small businesses receive loans backed by the U.S. Small Business Administration.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for 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:

Banking Deregulation's Effects on Entrepreneurship

SBA Banks in Grant Park, Illinois

Find an SBA Lender in Illinois