Minnesota Entrepreneur Secures Financing to Buy Maaco Auto Painting Center Franchise

Need a loan to buy a Maaco Auto Painting Center franchise? Community Pride Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Maaco Auto Painting Center franchise shouldn't be too tough. In 2003, Community Pride Bank issued an SBA franchise loan to an entrepreneur in Minneapolis, Minnesota. Because Maaco Auto Painting Center was registered with the SBA's registry of franchises, this Minnesota small business loan was issued on an expedited basis.

SBA Loan Borrower

MAACO AUTO PAINTING AND BODYGU
MINNEAPOLIS, MN 55407

SBA Loan Lender

COMMUNITY PRIDE BANK
901 NICKLAUS COURT
ISANTI, MN 55040

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.

SIC Code

7538 - General Automotive Repair Shops

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

10/23/2003

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

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 12 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you need business start up money in Minneapolis MN, you ought to talk with a local Minneapolis SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Minneapolis businesses.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $100,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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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