U.S. Bank National Association Provides SBA Loan to Buy Cottman Transmission Franchise
Need a loan to invest in a Cottman Transmission franchise? U.S. Bank National Association has a history of making these loans and they are guaranteed by the SBA.
If you live near Lawrence, Kansas and are interested in buying a Cottman Transmission franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2000 by U.S. Bank National Association. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.
SBA Loan Borrower
COTTMAN TRANSMISSION
LAWRENCE, KS 66044
SBA Loan Lender
U.S. BANK NATIONAL ASSOCIATION
425 WALNUT ST
CINCINNATI, OH 45202
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.
SIC Code
7537 - Automotive Transmission Repair Shops
NAICS Code
811113 - Automotive Transmission Repair
Loan Approval Date
1/12/2000
Loan Approval Gross Amount
$109,000
Loan Approval from the SBA
Of the total $109,000 loan amount, the SBA guaranteed $81,750.
More Information on This SBA Loan
The borrower borrowed this money for a new business. This loan was used to buy a Cottman Transmission franchise. At the time of the loan, the company
had 4 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to add employees or retain any existing employees.
Next Steps for Getting an SBA Loan
SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.
We've showcased information on this loan to let you know that businesses like yours 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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