Borrow Money to Buy a Midas Muffler Shop Franchise

Need a loan to buy a Midas Muffler Shop franchise? Kitsap Bank has a history of making these loans and they are guaranteed by the SBA.

Midas Muffler Shop franchise loans are available to Mt.Vernon, Washington entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Kitsap Bank, based in Port Orchard, Washington, issued an SBA franchise loan for a Midas Muffler Shop franchise in 2004. We've got all the details on this Washington small business loan.

SBA Loan Borrower

MIDAS AUTO SERVICE EXPERTS
MT.VERNON, WA 98273

SBA Loan Lender

KITSAP BANK
1700 VILLAGE LANE SE
PORT ORCHARD, WA 98366

This debt financing was provided by financing institution with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loan requests to the SBA get more expeditious service from the SBA on their loan applications.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811112 - Automotive Exhaust System Repair

Loan Approval Date

12/16/2004

Loan Approval Gross Amount

$300,000

Loan Approval from the SBA

Of the total $300,000 loan amount, the SBA guaranteed $225,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Midas Muffler Shop franchise. At the time of the loan, the company had 5 employees. This SBA loan request did not indicate that the business planned to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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:

Midas International Corporation

Role of Business Plan When Raising Money

Best Banks in Port Orchard, Washington

Find an SBA Lender in Washington