Borrow Money to Buy a Maaco Auto Painting Center Franchise

Borrowing money to invest in a Maaco Auto Painting Center franchise? Citicapital Small Business Finance has a history of making these loans and they are guaranteed by the SBA.

If you live near Columbia, South Carolina and are interested in buying a Maaco Auto Painting Center franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2001 by Citicapital Small Business Finance. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

MAACO AUTO PAINTING & BODYWORK
COLUMBIA, SC 29206

SBA Loan Lender

CITICAPITAL SMALL BUSINESS FINANCE
250 E CARPENTER FRWY, STE 115
IRVING, TX 75062

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7832 - Motion Picture Theaters

NAICS Code

811121 - Automotive Body, Paint, and Interior Repair and Maintenance

Loan Approval Date

2/16/2001

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Maaco Auto Painting Center franchise. At the time of the loan, the company had 9 employees. This SBA loan request did not indicate that the company planned to use the funding to hire new 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.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Citicapital Small Business Finance and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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