Florida Entrepreneur Secures Financing to Buy Matco Tools rent Tools Franchise

Need money to buy a Matco Tools rent Tools franchise? Bank Of America has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Matco Tools rent Tools franchise? If so, here's a 2002 SBA franchise loan that you should know about. Bank Of America was the lender and the entrepreneur was based in Dunnellon, Florida.

SBA Loan Borrower

AUTHORIZED MATCO TOOLS DISTRIB
DUNNELLON, FL 34431

SBA Loan Lender

BANK OF AMERICA
100 N TRYON ST
CHARLOTTE, NC 28255

This lender processed this commercial loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

421990 - Durable Goods Wholesalers

Loan Approval Date

4/12/2002

Loan Approval Gross Amount

$65,700

Loan Approval from the SBA

Of the total $65,700 loan amount, the SBA guaranteed $32,850.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Matco Tools rent Tools franchise. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help generate 1 new job and retain 1 existing job.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

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 Bank Of America 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.

Related Links:

Matco Tools

Alternative Financing

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North Carolina SBA 7A Lenders