Loan to Buy Meineke Discount Muffler Franchise Issued By Centerbank

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

Want to borrow money to buy a Meineke Discount Muffler franchise? If so, here's a 2002 SBA franchise loan that you should know about. Centerbank was the lender and the entrepreneur was based in Harrison, Ohio.

SBA Loan Borrower

HARRISON MEINEKE
HARRISON, OH 45030

SBA Loan Lender

CENTERBANK
744 STATE RTE 28
MILFORD, OH 45150

This lender issued this bank loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7533 - Automotive Exhaust System Repair Shops

NAICS Code

811112 - Automotive Exhaust System Repair

Loan Approval Date

5/7/2002

Loan Approval Gross Amount

$145,000

Loan Approval from the SBA

Of the total $145,000 loan amount, the SBA guaranteed $123,250.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 application for the borrower did not indicate that the business planned to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Centerbank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Centerbank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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

Role of Business Plan When Raising Money

SBA Approved Banks in Milford, Ohio

SBA Participating Banks in Ohio