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November 15, 2024 |
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| Home > Small Business Lenders by State > Kentucky Business Loan Sources > Indianapolis, Business Loans > The Huntington National Bank Indianapolis Business Loans > Cottman Transmissions Loan | ||||
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Business Loans for Louisville Small Business Owners
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Louisville, KY Entrepreneur Gets SBA Loan to Buy Cottman Transmission FranchiseNeed money to buy a Cottman Transmission franchise? The Huntington National Bank has a history of making these loans and they are guaranteed by the SBA. Want to borrow money to buy a Cottman Transmission franchise? If so, here's a 2000 SBA franchise loan that you should know about. The Huntington National Bank was the lender and the entrepreneur was based in Louisville, Kentucky. SBA Loan Borrower COTTMAN TRANSMISSIONS SBA Loan Lender THE HUNTINGTON NATIONAL BANK This lender issued this particular 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. SIC Code 7538 - General Automotive Repair Shops NAICS Code 811111 - General Automotive Repair Loan Approval Date 6/29/2000 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $80,000. 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 3 employees. The SBA loan documents did not indicate that the small business promised to use the money to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Every year, the SBA guarantees over $10 billion for loans just like this one. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. The Huntington National Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, The Huntington National Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: SBA Participating Banks in Indianapolis, Indiana
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