Lauderdale Lakes, FL Entrepreneur Gets SBA Loan to Buy Lee Myles Automotive Transmissions Franchise

Need a loan to buy a Lee Myles Automotive Transmissions franchise? Business Lenders, LLC has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Lee Myles Automotive Transmissions franchise may simply require a phone call to a local SBA banker. In 2004, Business Lenders, LLC issued an SBA franchise loan to an entrepreneur in Lauderdale Lakes, Florida. Because Lee Myles Automotive Transmissions was registered with the SBA's registry of franchises, this Florida small business loan was issued on an expedited basis.

SBA Loan Borrower

LEE MYLES TRANSMISSION (CBP EN
LAUDERDALE LAKES, FL 33313

SBA Loan Lender

BUSINESS LENDERS, LLC
50 STATE HOUSE SQUARE 5TH FL
HARTFORD, CT 06103

This lender issued this particular SBA business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

2/11/2004

Loan Approval Gross Amount

$140,000

Loan Approval from the SBA

Of the total $140,000 loan amount, the SBA guaranteed $119,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Lee Myles Automotive Transmissions franchise. At the time of the loan, the company had 4 employees. The SBA loan documents did not indicate that the company planned to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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