Metarie, LA Entrepreneur Gets SBA Loan to Buy Precision Tune Franchise

Borrowing money to purchase a Precision Tune franchise? Source Business & Indust Devel Cor has a history of making these loans and they are guaranteed by the SBA.

Precision Tune franchise loans are available to Metarie, Louisiana entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Source Business & Indust Devel Cor, based in Baton Rouge, Louisiana, issued an SBA franchise loan for a Precision Tune franchise in 2001. We've got all the details on this Louisiana small business loan.

SBA Loan Borrower

PRECISION TUNE
METARIE, LA 70003

SBA Loan Lender

SOURCE BUSINESS & INDUST DEVEL COR
9400 OLD HAMMOND HIGHWAY,
BATON ROUGE, LA 70809

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811191 - Automotive Oil Change and Lubrication Shops

Loan Approval Date

4/11/2001

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $63,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Precision Tune franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees.

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

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Source Business & Indust Devel Cor so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Precision Tune Auto Care

Obtaining Funding - How to Borrow Money

SBA Participating Banks in Baton Rouge, Louisiana

Find an SBA Lender in Louisiana