Borrow Money to Buy a Maaco Auto Painting Center Franchise

Borrowing money to invest in a Maaco Auto Painting Center franchise? Wells Fargo Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Menomonee Falls, Wisconsin and are interested in buying a Maaco Auto Painting Center franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2002 by Wells Fargo Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

MAACO AUTO PAINTING & BODYWORK
MENOMONEE FALLS, WI 53051

SBA Loan Lender

WELLS FARGO BANK
2329 CENTRAL AVE NE
MINNEAPOLIS, MN 55418

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

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

Loan Approval Date

5/29/2002

Loan Approval Gross Amount

$406,000

Loan Approval from the SBA

Of the total $406,000 loan amount, the SBA guaranteed $304,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Maaco Auto Painting Center franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help generate 8 new jobs and retain 10 existing jobs.

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

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Wells Fargo Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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:

MAACO Enterprises, Inc.

Understanding Dilution

SBA Participating Banks in Minneapolis, Minnesota

SBA Lenders in Minnesota