Illinois Entrepreneur Secures Financing to Buy Car-X Muffler Shop Franchise

Borrowing money to buy a Car-X Muffler Shop franchise? Main Street Bank & Trust has a history of making these loans and they are guaranteed by the SBA.

Car-X Muffler Shop franchise loans are available to Champaign, Illinois entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Main Street Bank & Trust, based in Champaign, Illinois, issued an SBA franchise loan for a Car-X Muffler Shop franchise in 2007. We've got all the details on this Illinois small business loan.

SBA Loan Borrower

CAR-X
CHAMPAIGN, IL 61821

SBA Loan Lender

MAIN STREET BANK & TRUST
100 W UNIVERSITY AVE
CHAMPAIGN, IL 61824

This SBA business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

7/25/2007

Loan Approval Gross Amount

$186,200

Loan Approval from the SBA

Of the total $186,200 loan amount, the SBA guaranteed $139,650.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Car-X Muffler Shop franchise. At the time of the loan, the company had 30 employees. The SBA loan documents indicated that the loan would help generate 5 new jobs and retain 25 existing jobs.

Start the Process for Getting an SBA Loan Today!

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

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Main Street Bank & Trust are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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:

CarX Muffler & Brake

How to Raise Money

Best Banks in Champaign, Illinois

Illinois SBA Banks