Borrow Money to Buy a Meineke Discount Muffler Franchise

Need money to purchase a Meineke Discount Muffler franchise? Wells Fargo Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Mchenry, Illinois needed money to invest in a Meineke Discount Muffler franchise back in 2005. Wells Fargo Bank issued an SBA franchise loan. Here are the details on this Illinois small business loan.

SBA Loan Borrower

MEINEKE CAR CARE CENTER OF MCH
MCHENRY, IL 60050

SBA Loan Lender

WELLS FARGO BANK
121 PARK CENTER PLZ
SAN JOSE, CA 95113

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811112 - Automotive Exhaust System Repair

Loan Approval Date

5/10/2005

Loan Approval Gross Amount

$175,900

Loan Approval from the SBA

Of the total $175,900 loan amount, the SBA guaranteed $131,925.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Meineke Discount Muffler franchise. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help generate 4 new jobs and retain 4 existing jobs.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

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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