Loan to Buy Miracle Auto Paint & Body Repair Franchise Issued By First Cit. Bank & Trust Inc

Need a loan to purchase a Miracle Auto Paint & Body Repair franchise? First Cit. Bank & Trust Inc has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Miracle Auto Paint & Body Repair franchise is doable. In 2001, First Cit. Bank & Trust Inc issued an SBA franchise loan to an entrepreneur in Columbia, South Carolina. Because Miracle Auto Paint & Body Repair was registered with the SBA's registry of franchises, this South Carolina small business loan was issued on an expedited basis.

SBA Loan Borrower

MCCARSON'S MOBILE AUTO RECOND
COLUMBIA, SC 29210

SBA Loan Lender

FIRST CIT. BANK & TRUST INC
1230 MAIN ST
COLUMBIA, SC 29201

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

7538 - General Automotive Repair Shops

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

3/22/2001

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $51,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Miracle Auto Paint & Body Repair franchise. At the time of the loan, the company had only one employee. The SBA loan documents did not indicate that the company planned to use the funding to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like First Cit. Bank & Trust Inc are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Miracle Auto Painting & Body Repair

Debt Financing

Best Banks in Columbia, South Carolina

SBA Participating Banks in South Carolina