Kenosha, WI Entrepreneur Gets SBA Loan to Buy Merlin's Muffler Franchise

Borrowing money to purchase a Merlin's Muffler franchise? Amcore Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Kenosha, Wisconsin and are interested in buying a Merlin's Muffler franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2002 by Amcore Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

MERLIN MUFFLER & BRAKE
KENOSHA, WI 53142

SBA Loan Lender

AMCORE BANK
501 SEVENTH ST
ROCKFORD, IL 61104

This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7533 - Automotive Exhaust System Repair Shops

NAICS Code

811112 - Automotive Exhaust System Repair

Loan Approval Date

2/27/2002

Loan Approval Gross Amount

$156,200

Loan Approval from the SBA

Of the total $156,200 loan amount, the SBA guaranteed $117,150.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Merlin's Muffler franchise. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the business promised to use the money to add 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 $156,200 loan. Remember, fight for what you want, and it will be yours!

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:

Merlin Muffler & Brake

Advice on Getting a Small Business Loan

SBA 7A Lenders in Rockford, Illinois

Browse All Business Loan Sources for Illinois