Jefferson, IN Entrepreneur Gets SBA Loan to Buy Maaco Auto Painting Center Franchise

Need a loan to buy a Maaco Auto Painting Center franchise? Comerica Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Maaco Auto Painting Center franchise shouldn't be too tough. In 2007, Comerica Bank issued an SBA franchise loan to an entrepreneur in Jefferson, Indiana. Because Maaco Auto Painting Center was registered with the SBA's registry of franchises, this Indiana small business loan was issued on an expedited basis.

SBA Loan Borrower

TERRANCE A. BYRD, INC. DBA MAACO COLLISION
Jefferson, IN 47130

SBA Loan Lender

COMERICA BANK
1717 MAIN
DALLAS, TX 75201

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

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

Loan Approval Date

7/23/2007

Loan Approval Gross Amount

$884,000

Loan Approval from the SBA

Of the total $884,000 loan amount, the SBA guaranteed $663,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Maaco Auto Painting Center franchise. At the time of the loan, the company had no employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

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

While you may be able to find business people willing to loan money, 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:

MAACO Enterprises, Inc.

The Friends and Family Network

Small Business Banks in Dallas, Texas

SBA Lenders in Texas