Borrow Money to Buy a Maaco Auto Painting Center Franchise

Borrowing money to invest in a Maaco Auto Painting Center franchise? Citizens Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Maaco Auto Painting Center franchise? If so, here's a 2005 SBA franchise loan that you should know about. Citizens Bank was the lender and the entrepreneur was based in Johnson City, Tennessee.

SBA Loan Borrower

CHEROKEE COLLISION REPAIR, INC
JOHNSON CITY, TN 37601

SBA Loan Lender

CITIZENS BANK
300 BROAD ST
ELIZABETHTON, TN 37643

This SBA loan was issued under the SBA's Certified Lenders Program (CLP), which means that this bank has a successful SBA lending track record and a thorough understanding of SBA lending rules and regulations.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7532 - Top and Body Repair and Paint Shops

NAICS Code

811121 - Automotive Body, Paint, and Interior Repair and Maintenance

Loan Approval Date

9/6/2005

Loan Approval Gross Amount

$700,000

Loan Approval from the SBA

Of the total $700,000 loan amount, the SBA guaranteed $525,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Maaco Auto Painting Center franchise. At the time of the loan, the company had 33 employees. The SBA loan documents did not indicate that the company planned 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 typically are available at competitive interest rates and have no balloon payments or annual reviews.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Citizens Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

MAACO Enterprises, Inc.

Direct Public Offerings

Where to Get an SBA Loan in Elizabethton, Tennessee

SBA Tennessee Banks