Edmond, OK Entrepreneur Gets SBA Loan to Buy Midas Muffler Shop Franchise

Borrowing money to buy a Midas Muffler Shop franchise? Bancfirst has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Midas Muffler Shop franchise? If so, here's a 2006 SBA franchise loan that you should know about. Bancfirst was the lender and the entrepreneur was based in Edmond, Oklahoma.

SBA Loan Borrower

MIDAS
EDMOND, OK 73013

SBA Loan Lender

BANCFIRST
101 N BROADWAY, STE 1050
OKLAHOMA CITY, OK 73102

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811112 - Automotive Exhaust System Repair

Loan Approval Date

9/8/2006

Loan Approval Gross Amount

$110,000

Loan Approval from the SBA

Of the total $110,000 loan amount, the SBA guaranteed $93,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Midas Muffler Shop franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help generate 7 new jobs and retain 8 existing jobs.

Next Steps for Getting an SBA Loan

If you need money to start a business or already have a business and need money to expand, an SBA loan can be a great funding source

We can help you find the best banks for small businesses in Edmond or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Midas International Corporation

A Company That Helps Entrepreneurs

Small Bank Loans in Oklahoma City, Oklahoma

SBA Lenders in Oklahoma