Chesterton, IN Entrepreneur Gets SBA Loan to Buy Matco Tools rent Tools Franchise

Borrowing money to purchase a Matco Tools rent Tools franchise? Comerica Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Matco Tools rent Tools franchise? If so, here's a 2006 SBA franchise loan that you should know about. Comerica Bank was the lender and the entrepreneur was based in Chesterton, Indiana.

SBA Loan Borrower

MATCO TOOLS
CHESTERTON, IN 46304

SBA Loan Lender

COMERICA BANK
1717 MAIN
DALLAS, TX 75201

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

423860 - Transportation Equipment and Supplies

Loan Approval Date

2/7/2006

Loan Approval Gross Amount

$133,800

Loan Approval from the SBA

Of the total $133,800 loan amount, the SBA guaranteed $113,730.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Matco Tools rent Tools franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help retain 1 existing job.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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