Ohio Entrepreneur Secures Financing to Buy Matco Tools rent Tools Franchise

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

If you live near Clarington, Ohio and are interested in buying a Matco Tools rent Tools franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2002 by Wesbanco Bank, Inc.. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

MATCO TOOLS
CLARINGTON, OH 43915

SBA Loan Lender

WESBANCO BANK, INC.
285 N STATE RTE 2, STEELTON F
NEW MARTINSVILLE, WV 26155

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5013 - Motor Vehicle Supplies and New Parts

NAICS Code

441310 - Automotive Parts and Accessories Stores

Loan Approval Date

10/4/2002

Loan Approval Gross Amount

$45,000

Loan Approval from the SBA

Of the total $45,000 loan amount, the SBA guaranteed $38,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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. The SBA loan application for the borrower did not indicate that the small business promised to use the money to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you need money to start business in Clarington OH, you ought to talk with a local Clarington SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Clarington businesses.

We can help you find the best banks for small businesses in Clarington or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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