Borrow Money to Buy a Merlin's Muffler Franchise

Need money to invest in a Merlin's Muffler franchise? Fifth Third Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Elmwood Park, Illinois and are interested in buying a Merlin's Muffler franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2003 by Fifth Third Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

MERLINS MUFFLER & BRAKE
ELMWOOD PARK, IL 60707

SBA Loan Lender

FIFTH THIRD BANK
629 W STATE ST
GENEVA, IL 60134

This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7549 - Automotive Services

NAICS Code

811191 - Automotive Oil Change and Lubrication Shops

Loan Approval Date

5/14/2003

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Merlin's Muffler franchise. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Fifth Third Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Merlin Muffler & Brake

Financing Your Business

SBA Participating Banks in Geneva, Illinois

Illinois SBA Bank Lenders