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December 22, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Irving, Business Loans > Citicapital Small Business Finance Irving Business Loans > Matco Tools, Authorized Dealer Loan | ||||
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I Need an SBA Loan to Buy a Franchise in Clearwater, Minnesota
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Borrow Money to Buy a Matco Tools rent Tools FranchiseNeed a loan to invest in a Matco Tools rent Tools franchise? Citicapital Small Business Finance has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Clearwater, Minnesota needed money to invest in a Matco Tools rent Tools franchise back in 2000. Citicapital Small Business Finance issued an SBA franchise loan. Here are the details on this Minnesota small business loan. SBA Loan Borrower MATCO TOOLS, AUTHORIZED DEALER SBA Loan Lender CITICAPITAL SMALL BUSINESS FINANCE This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5531 - Auto and Home Supply Stores Loan Approval Date 5/11/2000 Loan Approval Gross Amount $57,000 Loan Approval from the SBA Of the total $57,000 loan amount, the SBA guaranteed $45,600. 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 did not indicate that the small business promised to use the funding to add employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loans provide smart, affordable business financing for small businesses looking to expand. If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Citicapital Small Business Finance so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: Banking Deregulation's Effects on Entrepreneurship Good Banks for Small Business in Irving, Texas
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