Lincoln, NE Entrepreneur Gets SBA Loan to Buy Snap-On-Tools Franchise

Need a loan to invest in a Snap-On-Tools franchise? Security First Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Snap-On-Tools franchise requires some effort but others before you have been successful. In 2007, Security First Bank issued an SBA franchise loan to an entrepreneur in Lincoln, Nebraska. Because Snap-On-Tools was registered with the SBA's registry of franchises, this Nebraska small business loan was issued on an expedited basis.

SBA Loan Borrower

TERRY RICHARDS
LINCOLN, NE 68504

SBA Loan Lender

SECURITY FIRST BANK
5710 S 53RD ST
LINCOLN, NE 68516

This lender processed this business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

423120 - Motor Vehicle Supplies and New Parts Merchant Wholesalers

Loan Approval Date

6/12/2007

Loan Approval Gross Amount

$52,500

Loan Approval from the SBA

Of the total $52,500 loan amount, the SBA guaranteed $26,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Snap-On-Tools franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help generate 1 new job.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

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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