Loan to Buy Tuffy Muffler Center Franchise Issued By Wachovia Bank

Need a loan to buy a Tuffy Muffler Center franchise? Wachovia Bank has a history of making these loans and they are guaranteed by the SBA.

Tuffy Muffler Center franchise loans are available to Destin, Georgia entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Wachovia Bank, based in Atlanta, Georgia, issued an SBA franchise loan for a Tuffy Muffler Center franchise in 2002. We've got all the details on this Georgia small business loan.

SBA Loan Borrower

TUFFY AUTO SERVICE CENTERS OF
DESTIN, GA 32541

SBA Loan Lender

WACHOVIA BANK
360 INTERSTATE NORTH PKWY, ST
ATLANTA, GA 30339

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

2/25/2002

Loan Approval Gross Amount

$96,260

Loan Approval from the SBA

Of the total $96,260 loan amount, the SBA guaranteed $81,821.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Tuffy Muffler Center franchise. At the time of the loan, the company had 5 employees. The SBA loan documents 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

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Wachovia Bank 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.

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