Loan to Buy Meineke Discount Muffler Franchise Issued By Jpmorgan Chase Bank

Borrowing money to buy a Meineke Discount Muffler franchise? Jpmorgan Chase Bank has a history of making these loans and they are guaranteed by the SBA.

Meineke Discount Muffler franchise loans are available to Mesa, Arizona entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Jpmorgan Chase Bank, based in Houston, Texas, issued an SBA franchise loan for a Meineke Discount Muffler franchise in 2003. We've got all the details on this Arizona small business loan.

SBA Loan Borrower

MEINEKE CAR CARE CENTER
MESA, AZ 85206

SBA Loan Lender

JPMORGAN CHASE BANK
811 RUSK ST., 16TH FL
HOUSTON, TX 77002

The lender provided this commercial 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

811112 - Automotive Exhaust System Repair

Loan Approval Date

7/17/2003

Loan Approval Gross Amount

$70,700

Loan Approval from the SBA

Of the total $70,700 loan amount, the SBA guaranteed $35,350.

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 2 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 2 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.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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