Greensburg, PA Entrepreneur Gets SBA Loan to Buy Meineke Discount Muffler Franchise

Borrowing money to invest in a Meineke Discount Muffler franchise? National City Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Meineke Discount Muffler franchise requires some effort but others before you have been successful. In 2001, National City Bank issued an SBA franchise loan to an entrepreneur in Greensburg, Pennsylvania. Because Meineke Discount Muffler was registered with the SBA's registry of franchises, this Pennsylvania small business loan was issued on an expedited basis.

SBA Loan Borrower

MEINEKE DISCOUNT MUFFLER SHOP
GREENSBURG, PA 15601

SBA Loan Lender

NATIONAL CITY BANK
801 STATE ST
ERIE, PA 16501

This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811112 - Automotive Exhaust System Repair

Loan Approval Date

10/24/2001

Loan Approval Gross Amount

$175,000

Loan Approval from the SBA

Of the total $175,000 loan amount, the SBA guaranteed $131,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Meineke Discount Muffler franchise. At the time of the loan, the company had 5 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Meineke Car Care Centers

Angel Investors

SBA 7A Banks for Erie, Pennsylvania Loans

SBA Lenders in Pennsylvania