Liberty Bank Provides SBA Loan to Buy Mars Franchise

Borrowing money to buy a Mars franchise? Liberty Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Mars franchise shouldn't be overly burdensome. In 2003, Liberty Bank issued an SBA franchise loan to an entrepreneur in Keller, Texas. Because Mars was registered with the SBA's registry of franchises, this Texas small business loan was issued on an expedited basis.

SBA Loan Borrower

LEONARD'S MOBILE APPEARANCE RE
KELLER, TX 76248

SBA Loan Lender

LIBERTY BANK
5801 DAVIS BLVD
NORTH RICHLAND HILLS, TX 76180

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.

NAICS Code

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

Loan Approval Date

1/29/2003

Loan Approval Gross Amount

$48,300

Loan Approval from the SBA

Of the total $48,300 loan amount, the SBA guaranteed $41,055.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Mars franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are interested in getting money to start a business or need money to grow a business, an SBA loan can be a great funding source

This company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer 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:

Small Business Loan

SBA Approved Banks in North Richland Hills, Texas

Where to Get an SBA Loan Texas