Canton, OH Entrepreneur Gets SBA Loan to Buy Aamco Transmissions Franchise

Need money to invest in an Aamco Transmissions franchise? Comerica Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy an Aamco Transmissions franchise? If so, here's a 2005 SBA franchise loan that you should know about. Comerica Bank was the lender and the entrepreneur was based in Canton, Ohio.

SBA Loan Borrower

AAMCO TRANSMISSION OF N CANTON
CANTON, OH 44718

SBA Loan Lender

COMERICA BANK
1717 MAIN
DALLAS, TX 75201

This bank loan was provided by a small business banker with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loans to the SBA get more expeditious service from the SBA on their loan applications.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811113 - Automotive Transmission Repair

Loan Approval Date

8/30/2005

Loan Approval Gross Amount

$179,800

Loan Approval from the SBA

Of the total $179,800 loan amount, the SBA guaranteed $134,850.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy an Aamco Transmissions franchise. At the time of the loan, the company had 6 employees. The SBA loan documents did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

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

SBA loans provide money to small business owners for working capital for other expenses.

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 Comerica Bank 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:

AAMCO Transmissions, Inc.

Microlending as a Small Business Funding Source

SBA 7A Banks for Dallas, Texas Loans

SBA Participating Banks in Texas