Loan to Buy Midas Muffler Shop Franchise Issued By Shorebank

Borrowing money to buy a Midas Muffler Shop franchise? Shorebank has a history of making these loans and they are guaranteed by the SBA.

Midas Muffler Shop franchise loans are available to Chicago, Illinois entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Shorebank, based in Chicago, Illinois, issued an SBA franchise loan for a Midas Muffler Shop franchise in 2005. We've got all the details on this Illinois small business loan.

SBA Loan Borrower

MIDAS
CHICAGO, IL 60402

SBA Loan Lender

SHOREBANK
7054 S JEFFREY AVE
CHICAGO, IL 60649

The lender provided this bank loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

423120 - Motor Vehicle Supplies and New Parts Merchant Wholesalers

Loan Approval Date

6/16/2005

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $75,000.

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 6 employees. This SBA loan request indicated that the loan would help retain 6 existing jobs.

Getting an SBA Loan For Your Business

SBA loans provide money to small business owners for working capital for other expenses.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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

Alternative Financing

SBA Participating Banks in Chicago, Illinois

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