United Bank Provides SBA Loan to Buy Snap-On-Tools Franchise

Need money to buy a Snap-On-Tools franchise? United Bank has a history of making these loans and they are guaranteed by the SBA.

Snap-On-Tools franchise loans are available to Charlottesville, Virginia entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, United Bank, based in Charlottesville, Virginia, issued an SBA franchise loan for a Snap-On-Tools franchise in 2001. We've got all the details on this Virginia small business loan.

SBA Loan Borrower

SNAP ON TOOLS
CHARLOTTESVILLE, VA 22902

SBA Loan Lender

UNITED BANK
1265 SEMINOLE TRL
CHARLOTTESVILLE, VA 22901

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan for a small business was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5013 - Motor Vehicle Supplies and New Parts

NAICS Code

421120 - Motor Vehicle Supplies and New Parts Wholesalers

Loan Approval Date

4/13/2001

Loan Approval Gross Amount

$285,000

Loan Approval from the SBA

Of the total $285,000 loan amount, the SBA guaranteed $213,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Snap-On-Tools franchise. At the time of the loan, the company had only one employee. The loan application did not indicate that the company promised to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

This SBA loan was for $285,000. How would you spend $285,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Snap-on-Tools Company

Understanding Dilution

SBA Approved Banks in Charlottesville, Virginia

Find an SBA Lender in Virginia