Loan to Buy Midas Muffler Shop Franchise Issued By Community W. Bank

Borrowing money to invest in a Midas Muffler Shop franchise? Community W. Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Charlotte, North Carolina needed money to invest in a Midas Muffler Shop franchise back in 2000. Community W. Bank issued an SBA franchise loan. Here are the details on this North Carolina small business loan.

SBA Loan Borrower

MIDAS AUTO SYSTEMS
CHARLOTTE, NC 28213

SBA Loan Lender

COMMUNITY W. BANK
5827 HOLLISTER AVE
GOLETA, CA 93117

This SBA small business loan was provided by a lender 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.

SIC Code

7533 - Automotive Exhaust System Repair Shops

NAICS Code

811112 - Automotive Exhaust System Repair

Loan Approval Date

10/16/2000

Loan Approval Gross Amount

$343,300

Loan Approval from the SBA

Of the total $343,300 loan amount, the SBA guaranteed $257,475.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Midas Muffler Shop franchise. At the time of the loan, the company had 20 employees. The loan application did not indicate that the small business promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Community W. Bank 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:

Midas International Corporation

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Small Bank Loans in Goleta, California

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