Comerica Bank Provides SBA Loan to Buy Maaco Auto Painting Center Franchise

Borrowing money to invest in 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 Knoxville, Tennessee. Because Maaco Auto Painting Center was registered with the SBA's registry of franchises, this Tennessee small business loan was issued on an expedited basis.

SBA Loan Borrower

MAACO
KNOXVILLE, TN 37921

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

811198 - Automotive Repair and Maintenance

Loan Approval Date

5/11/2007

Loan Approval Gross Amount

$1,189,500

Loan Approval from the SBA

Of the total $1,189,500 loan amount, the SBA guaranteed $892,125.

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 3 employees. The loan application indicated that the loan would help generate 5 new jobs and retain 8 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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 $1,189,500 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:

MAACO Enterprises, Inc.

Business Line of Credit

SBA Banks in Dallas, Texas

Getting an SBA Loan in Texas