Loan to Buy Midas Muffler Shop Franchise Issued By National City Bank

Need money to purchase a Midas Muffler Shop franchise? National City Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Midas Muffler Shop franchise is doable. In 2003, National City Bank issued an SBA franchise loan to an entrepreneur in Evanston, Illinois. Because Midas Muffler Shop was registered with the SBA's registry of franchises, this Illinois small business loan was issued on an expedited basis.

SBA Loan Borrower

JOMADA SYSTEMS INC
EVANSTON, IL 60202

SBA Loan Lender

NATIONAL CITY BANK
2595 WAUKEGAN RD
BANNOCKBURN, IL 60015

This loan for a small business was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

811112 - Automotive Exhaust System Repair

Loan Approval Date

6/17/2003

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $12,500.

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 7 employees. The loan application indicated that the loan would help retain 7 existing jobs.

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

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 Evanston 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

Business Credit Evaluation

Find an SBA Lender in Bannockburn, Illinois

Getting a Business Loan in Illinois