Ncb, Fsb Provides SBA Loan to Buy Cottman Transmission Franchise

Need money to buy a Cottman Transmission franchise? Ncb, Fsb has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Cottman Transmission franchise may simply require a phone call to a local SBA banker. In 2002, Ncb, Fsb issued an SBA franchise loan to an entrepreneur in Jackson, Tennessee. Because Cottman Transmission was registered with the SBA's registry of franchises, this Tennessee small business loan was issued on an expedited basis.

SBA Loan Borrower

COTTMAN TRANSMISSION
JACKSON, TN 38301

SBA Loan Lender

NCB, FSB
139 S HIGH ST
HILLSBORO, OH 45133

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7537 - Automotive Transmission Repair Shops

NAICS Code

811113 - Automotive Transmission Repair

Loan Approval Date

2/22/2002

Loan Approval Gross Amount

$140,000

Loan Approval from the SBA

Of the total $140,000 loan amount, the SBA guaranteed $119,000.

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 promised to use the money to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $140,000 loan. Remember, where there is a will, there is a way!

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.

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