Citicapital Small Business Finance Provides SBA Loan to Buy Matco Tools rent Tools Franchise

Need a loan to purchase a Matco Tools rent Tools franchise? Citicapital Small Business Finance has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Lansing, Michigan needed money to invest in a Matco Tools rent Tools franchise back in 2000. Citicapital Small Business Finance issued an SBA franchise loan. Here are the details on this Michigan small business loan.

SBA Loan Borrower

GEIGER TOOL SALES
LANSING, MI 48911

SBA Loan Lender

CITICAPITAL SMALL BUSINESS FINANCE
250 E CARPENTER FRWY, STE 115
IRVING, TX 75062

This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5531 - Auto and Home Supply Stores

NAICS Code

441310 - Automotive Parts and Accessories Stores

Loan Approval Date

11/17/2000

Loan Approval Gross Amount

$57,000

Loan Approval from the SBA

Of the total $57,000 loan amount, the SBA guaranteed $45,600.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Matco Tools rent Tools franchise. At the time of the loan, the company had only one employee. The loan application did not indicate that the business planned to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

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.

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