Missouri Entrepreneur Secures Financing to Buy Mr. Transmission Franchise

Need money to invest in a Mr. Transmission franchise? National City Bank has a history of making these loans and they are guaranteed by the SBA.

Mr. Transmission franchise loans are available to Maplewood, Missouri entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, National City Bank, based in Bannockburn, Illinois, issued an SBA franchise loan for a Mr. Transmission franchise in 2004. We've got all the details on this Missouri small business loan.

SBA Loan Borrower

MILEX AUTO CARE & MR TRANSMISS
MAPLEWOOD, MO 63143

SBA Loan Lender

NATIONAL CITY BANK
2595 WAUKEGAN RD
BANNOCKBURN, IL 60015

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

811113 - Automotive Transmission Repair

Loan Approval Date

3/15/2004

Loan Approval Gross Amount

$145,600

Loan Approval from the SBA

Of the total $145,600 loan amount, the SBA guaranteed $72,800.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Mr. Transmission franchise. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower indicated that the loan would help generate 7 new jobs and retain 4 existing jobs.

Next Steps for Getting an SBA Loan

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

Mr. Transmission

Obtaining Funding - How to Decide How Much to Raise

SBA Banks in Bannockburn, Illinois

SBA Lenders in Illinois