Loan to Buy Aamco Transmissions Franchise Issued By Tioga State Bank

Need a loan to invest in an Aamco Transmissions franchise? Tioga State Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Elmira, New York and are interested in buying an Aamco Transmissions franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2005 by Tioga State Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

AAMCO TRANSMISSIONS
ELMIRA, NY 14901

SBA Loan Lender

TIOGA STATE BANK
436 CAYUTA AVE
WAVERLY, NY 14892

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.

NAICS Code

811113 - Automotive Transmission Repair

Loan Approval Date

3/25/2005

Loan Approval Gross Amount

$106,000

Loan Approval from the SBA

Of the total $106,000 loan amount, the SBA guaranteed $90,100.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy an Aamco Transmissions franchise. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Tioga State Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Tioga State Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

AAMCO Transmissions, Inc.

Role of Business Plan When Raising Money

Best Banks in Waverly, New York

Where to Get an SBA Loan New York