Indianapolis, IN Entrepreneur Gets SBA Loan to Buy Midas Muffler Shop Franchise

Borrowing money to buy a Midas Muffler Shop franchise? Lincoln Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Midas Muffler Shop franchise? If so, here's a 2003 SBA franchise loan that you should know about. Lincoln Bank was the lender and the entrepreneur was based in Indianapolis, Indiana.

SBA Loan Borrower

MIDAS AUTO SERVICE EXPERTS
INDIANAPOLIS, IN 46250

SBA Loan Lender

LINCOLN BANK
905 SOUTHFIELD DR
PLAINFIELD, IN 46168

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7538 - General Automotive Repair Shops

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

11/7/2003

Loan Approval Gross Amount

$670,000

Loan Approval from the SBA

Of the total $670,000 loan amount, the SBA guaranteed $502,500.

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 43 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

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:

Midas International Corporation

Getting a Small Business Loan

SBA 7A Lenders in Plainfield, Indiana

SBA Lenders in Indiana