Loan to Buy Mr. Transmission Franchise Issued By First National Bank - Tennessee

Borrowing money to invest in a Mr. Transmission franchise? First National Bank - Tennessee has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Cookeville, Tennessee needed money to invest in a Mr. Transmission franchise back in 2004. First National Bank - Tennessee issued an SBA franchise loan. Here are the details on this Tennessee small business loan.

SBA Loan Borrower

MR. TRANSMISSION
COOKEVILLE, TN 38501

SBA Loan Lender

FIRST NATIONAL BANK - TENNESSEE
412 S JEFFERSON AVE
COOKEVILLE, TN 38501

This lender issued this bank loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

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

6/29/2004

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 Mr. Transmission franchise. At the time of the loan, the company had 4 employees. This SBA loan request did not indicate that the business planned to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

This company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer 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:

Mr. Transmission

Borrowing Money from Friends and Family

SBA 7A Banks in Cookeville, Tennessee

Getting a Business Loan in Tennessee