Eaton Rapids, MI Entrepreneur Gets SBA Loan to Buy Matco Tools rent Tools Franchise

Borrowing money to invest in a Matco Tools rent Tools franchise? Ge Cap. Small Business Finan Corp has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Eaton Rapids, Michigan needed money to invest in a Matco Tools rent Tools franchise back in 2002. Ge Cap. Small Business Finan Corp issued an SBA franchise loan. Here are the details on this Michigan small business loan.

SBA Loan Borrower

MATCO TOOLS
EATON RAPIDS, MI 48827

SBA Loan Lender

GE CAP. SMALL BUSINESS FINAN CORP
635 MARYVILLE CENTRE DR, STE
ST. LOUIS, MO 63141

This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5963 - Direct Selling Establishments

NAICS Code

454390 - Direct Selling Establishments

Loan Approval Date

3/4/2002

Loan Approval Gross Amount

$127,400

Loan Approval from the SBA

Of the total $127,400 loan amount, the SBA guaranteed $108,290.

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 SBA loan documents did not indicate that the company planned to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you are interested in getting money to start a business or need money for an existing business, an SBA loan can be a great funding source

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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

Small Bank Loans in St. Louis, Missouri

SBA Participating Banks in Missouri