Fairview Heights, IL Entrepreneur Gets SBA Loan to Buy Snap-On-Tools Franchise

Borrowing money to buy a Snap-On-Tools franchise? Regions Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Snap-On-Tools franchise requires some effort but others before you have been successful. In 2004, Regions Bank issued an SBA franchise loan to an entrepreneur in Fairview Heights, Illinois. Because Snap-On-Tools was registered with the SBA's registry of franchises, this Illinois small business loan was issued on an expedited basis.

SBA Loan Borrower

SNAP ON TOOLS
FAIRVIEW HEIGHTS, IL 62208

SBA Loan Lender

REGIONS BANK
6200 POPLAR AVE
MEMPHIS, TN 38119

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

421710 - Hardware Wholesalers

Loan Approval Date

3/18/2004

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $75,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Snap-On-Tools franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help retain 1 existing job.

Start the Process for Getting an SBA Loan Today!

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer 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:

Snap-on-Tools Company

Accountant's Role in Securing Financing

SBA Participating Banks in Memphis, Tennessee

Getting an SBA Loan in Tennessee