Charlotte, NC Entrepreneur Gets SBA Loan to Buy Tilden For Brakes Car Care Center Franchise

Need a loan to invest in a Tilden For Brakes Car Care Center franchise? Branch Bank & Trust 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 Tilden For Brakes Car Care Center franchise back in 2001. Branch Bank & Trust issued an SBA franchise loan. Here are the details on this North Carolina small business loan.

SBA Loan Borrower

TILDEN FOR BRAKES CAR CARE CEN
CHARLOTTE, NC 28212

SBA Loan Lender

BRANCH BANK & TRUST
200 S COLLEGE ST, 8TH FL
CHARLOTTE, NC 28202

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7538 - General Automotive Repair Shops

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

12/28/2001

Loan Approval Gross Amount

$138,400

Loan Approval from the SBA

Of the total $138,400 loan amount, the SBA guaranteed $117,640.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Tilden For Brakes Car Care Center franchise. At the time of the loan, the company had 5 employees. The SBA loan documents did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Branch Bank & Trust 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.

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Tilden Car Care Centers

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