Commerce Bank Provides SBA Loan to Buy Midas Muffler Shop Franchise

Need a loan to invest in a Midas Muffler Shop franchise? Commerce Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Midas Muffler Shop franchise requires some effort but others before you have been successful. In 2004, Commerce Bank issued an SBA franchise loan to an entrepreneur in Cherry Hill (township Of), New Jersey. Because Midas Muffler Shop was registered with the SBA's registry of franchises, this New Jersey small business loan was issued on an expedited basis.

SBA Loan Borrower

MIDAS
CHERRY HILL (TOWNSHIP OF), NJ 08003

SBA Loan Lender

COMMERCE BANK
200 LANCASTER AVE
DEVON, PA 19333

This lender provides SBA guaranteed business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811112 - Automotive Exhaust System Repair

Loan Approval Date

8/25/2004

Loan Approval Gross Amount

$565,000

Loan Approval from the SBA

Of the total $565,000 loan amount, the SBA guaranteed $423,750.

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 only one employee. The SBA loan application for the borrower indicated that the funding would help generate 14 new jobs.

Getting an SBA Loan For Your Business

If you need money to start business in Cherry Hill (township Of) NJ, you ought to talk with a local Cherry Hill (township Of) SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Cherry Hill (township Of) businesses.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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Who Lends Money to Small Businesses in Devon, Pennsylvania

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