Loan to Buy Meineke Discount Muffler Franchise Issued By Danversbank

Borrowing money to buy a Meineke Discount Muffler franchise? Danversbank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Meineke Discount Muffler franchise shouldn't be too tough. In 2002, Danversbank issued an SBA franchise loan to an entrepreneur in Lawrence, Massachusetts. Because Meineke Discount Muffler was registered with the SBA's registry of franchises, this Massachusetts small business loan was issued on an expedited basis.

SBA Loan Borrower

MEINEKE DISCOUNT MUFFLERS
LAWRENCE, MA 01923

SBA Loan Lender

DANVERSBANK
1 CONANT ST
DANVERS, MA 01923

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7538 - General Automotive Repair Shops

NAICS Code

811113 - Automotive Transmission Repair

Loan Approval Date

10/30/2002

Loan Approval Gross Amount

$304,000

Loan Approval from the SBA

Of the total $304,000 loan amount, the SBA guaranteed $228,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Meineke Discount Muffler franchise. At the time of the loan, the company had 4 employees. The loan application did not indicate that the business promised to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

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.

Related Links:

Meineke Car Care Centers

Understanding Dilution

SBA 7A Lenders in Danvers, Massachusetts

Massachusetts SBA 7A Lenders