Loan to Buy Snap-On-Tools Franchise Issued By Security First Bank

Need money to invest in a Snap-On-Tools franchise? Security First Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Snap-On-Tools franchise shouldn't be too tough. In 2005, Security First Bank issued an SBA franchise loan to an entrepreneur in Brady, Nebraska. Because Snap-On-Tools was registered with the SBA's registry of franchises, this Nebraska small business loan was issued on an expedited basis.

SBA Loan Borrower

TERRY RICHARDS
BRADY, NE 68504

SBA Loan Lender

SECURITY FIRST BANK
1300 GARRET LN
LINCOLN, NE 68512

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

423120 - Motor Vehicle Supplies and New Parts Merchant Wholesalers

Loan Approval Date

11/17/2005

Loan Approval Gross Amount

$119,000

Loan Approval from the SBA

Of the total $119,000 loan amount, the SBA guaranteed $59,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Snap-On-Tools franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help create 1 new job.

Getting an SBA Loan For Your Business

If you want money for new small business in Brady NE, you ought to talk with a local Brady SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Brady businesses.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Security First Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Snap-on-Tools Company

Realistic Debt Financing Options

Best Banks in Lincoln, Nebraska

Find an SBA Lender in Nebraska