Loan to Buy Aamco Transmissions Franchise Issued By Community National Bank

Borrowing money to invest in an Aamco Transmissions franchise? Community National Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Mason City, Iowa needed money to invest in an Aamco Transmissions franchise back in 2006. Community National Bank issued an SBA franchise loan. Here are the details on this Iowa small business loan.

SBA Loan Borrower

AAMCO TRANSMISSIONS, INC
MASON CITY, IA 50401

SBA Loan Lender

COMMUNITY NATIONAL BANK
100 E STATE
MASON CITY, IA 50401

This SBA loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811113 - Automotive Transmission Repair

Loan Approval Date

2/1/2006

Loan Approval Gross Amount

$300,000

Loan Approval from the SBA

Of the total $300,000 loan amount, the SBA guaranteed $225,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy an Aamco Transmissions franchise. At the time of the loan, the company had 3 employees. This SBA loan request did not indicate that the business planned to use the funding to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

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

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $300,000 loan. Remember, you control your own destiny.

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:

AAMCO Transmissions, Inc.

504 Loans

Who Lends Money to Small Businesses in Mason City, Iowa

Iowa SBA 7A Lenders