National City Bank Provides SBA Loan to Buy Miracle Auto Paint & Body Repair Franchise

Need a loan to purchase a Miracle Auto Paint & Body Repair franchise? National City Bank has a history of making these loans and they are guaranteed by the SBA.

Miracle Auto Paint & Body Repair franchise loans are available to Lexington, Kentucky entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, National City Bank, based in Cleveland, Ohio, issued an SBA franchise loan for a Miracle Auto Paint & Body Repair franchise in 2006. We've got all the details on this Kentucky small business loan.

SBA Loan Borrower

MARS OF KENTUCKY
Lexington, KY 40503

SBA Loan Lender

NATIONAL CITY BANK
1900 E 9TH ST
CLEVELAND, OH 44114

The lender provided this bank loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

811121 - Automotive Body, Paint, and Interior Repair and Maintenance

Loan Approval Date

11/17/2006

Loan Approval Gross Amount

$55,000

Loan Approval from the SBA

Of the total $55,000 loan amount, the SBA guaranteed $27,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Miracle Auto Paint & Body Repair franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help generate 1 new job and retain 3 existing jobs.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Miracle Auto Painting & Body Repair

Accountant's Role in Securing Financing

Who Lends Money to Small Businesses in Cleveland, Ohio

Ohio SBA 7A Lenders