Borrow Money to Buy a Big O Tires dealers Franchise

Borrowing money to buy a Big O Tires dealers franchise? Bank Of Utah has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Big O Tires dealers franchise shouldn't be too tough. In 2000, Bank Of Utah issued an SBA franchise loan to an entrepreneur in Brigham City, Utah. Because Big O Tires dealers was registered with the SBA's registry of franchises, this Utah small business loan was issued on an expedited basis.

SBA Loan Borrower

BIG O TIRES- LOGAN
BRIGHAM CITY, UT 84302

SBA Loan Lender

BANK OF UTAH
2605 WASHINGTON BLVD
OGDEN, UT 84401

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

441320 - Tire Dealers

Loan Approval Date

12/8/2000

Loan Approval Gross Amount

$379,000

Loan Approval from the SBA

Of the total $379,000 loan amount, the SBA guaranteed $284,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Big O Tires dealers franchise. At the time of the loan, the company had 12 employees. The loan application indicated that the loan would help generate 12 new jobs and retain 12 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Bank Of Utah and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Big O Tires, Inc.

Getting a Small Business Loan

Best Ogden, Utah Banks for Small Business

SBA Lenders in Utah