Borrow Money to Buy a Cornwell Quality Tool Company,Inc Franchise

Need a loan to invest in a Cornwell Quality Tool Company,Inc franchise? Mechanics Co-Operative Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Cornwell Quality Tool Company,Inc franchise? If so, here's a 2004 SBA franchise loan that you should know about. Mechanics Co-Operative Bank was the lender and the entrepreneur was based in East Taunton, Massachusetts.

SBA Loan Borrower

CORNWELL TOOLS
EAST TAUNTON, MA 02718

SBA Loan Lender

MECHANICS CO-OPERATIVE BANK
308 BAY ST
TAUNTON, MA 02780

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

441310 - Automotive Parts and Accessories Stores

Loan Approval Date

4/22/2004

Loan Approval Gross Amount

$85,000

Loan Approval from the SBA

Of the total $85,000 loan amount, the SBA guaranteed $72,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Cornwell Quality Tool Company,Inc franchise. At the time of the loan, the company had only one employee. The SBA loan documents did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees.

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

SBA loans provide smart, affordable business financing for small businesses looking to expand.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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