Merrill Lynch Bank Usa Provides SBA Loan to Buy Cottman Transmission Franchise

Borrowing money to invest in a Cottman Transmission franchise? Merrill Lynch Bank Usa has a history of making these loans and they are guaranteed by the SBA.

Cottman Transmission franchise loans are available to Georgetown, Texas entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Merrill Lynch Bank Usa, based in Salt Lake City, Utah, issued an SBA franchise loan for a Cottman Transmission franchise in 2001. We've got all the details on this Texas small business loan.

SBA Loan Borrower

COTTMAN TRANSMISSION
GEORGETOWN, TX 78627

SBA Loan Lender

MERRILL LYNCH BANK USA
15 W SOUTH TEMPLE, STE 300
SALT LAKE CITY, UT 84101

This lender issued this particular loan for a small business 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.

NAICS Code

811113 - Automotive Transmission Repair

Loan Approval Date

8/1/2001

Loan Approval Gross Amount

$120,300

Loan Approval from the SBA

Of the total $120,300 loan amount, the SBA guaranteed $102,255.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Cottman Transmission franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $120,300 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Cottman Transmissions

Getting a Small Business Loan

SBA Banks in Salt Lake City, Utah

Utah SBA 7A Lenders