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November 15, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > New York City, Business Loans > Carver Federal Savings Bank New York City Business Loans > Top Tech Auto,Inc Loan | ||||
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Where to Get a Business Loan to Purchase a Franchise
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Borrow Money to Buy a King Bear Auto Service FranchiseNeed a loan to purchase a King Bear Auto Service franchise? Carver Federal Savings Bank has a history of making these loans and they are guaranteed by the SBA. Want to borrow money to buy a King Bear Auto Service franchise? If so, here's a 2005 SBA franchise loan that you should know about. Carver Federal Savings Bank was the lender and the entrepreneur was based in Deer Park, New York. SBA Loan Borrower TOP TECH AUTO,INC SBA Loan Lender CARVER FEDERAL SAVINGS BANK This lender issued this business loan under the SBA's 7A loan, 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. NAICS Code 811111 - General Automotive Repair Loan Approval Date 12/21/2005 Loan Approval Gross Amount $350,000 Loan Approval from the SBA Of the total $350,000 loan amount, the SBA guaranteed $262,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a King Bear Auto Service franchise. At the time of the loan, the company had 14 employees. This SBA loan request did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Carver Federal Savings Bank 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: SBA Banks in New York City, New York Browse All Business Loan Sources for New York
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