Tcf National Bank Provides SBA Loan to Buy Precision Tune Franchise

Need a loan to purchase a Precision Tune franchise? Tcf National Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Minneapolis, Minnesota and are interested in buying a Precision Tune franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2001 by Tcf National Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

PRECISION TUNE AUTO CARE
MINNEAPOLIS, MN 55403

SBA Loan Lender

TCF NATIONAL BANK
200 LAKE ST EAST
WAYZATA, MN 55391

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

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

1/31/2001

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Precision Tune franchise. At the time of the loan, the company had 17 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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

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Best Wayzata, Minnesota Banks for Small Business

Where to Get an SBA Loan Minnesota