Borrow Money to Buy an Aamco Transmissions Franchise

Need a loan to buy an Aamco Transmissions franchise? Commerce Bank has a history of making these loans and they are guaranteed by the SBA.

Aamco Transmissions franchise loans are available to Morristown, New Jersey entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Commerce Bank, based in Philadelphia, Pennsylvania, issued an SBA franchise loan for an Aamco Transmissions franchise in 2006. We've got all the details on this New Jersey small business loan.

SBA Loan Borrower

NCPF, LLC
Morristown, NJ 07960

SBA Loan Lender

COMMERCE BANK
2005 MARKET ST
PHILADELPHIA, PA 19103

This lender provides SBA debt financing as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811113 - Automotive Transmission Repair

Loan Approval Date

9/28/2006

Loan Approval Gross Amount

$617,500

Loan Approval from the SBA

Of the total $617,500 loan amount, the SBA guaranteed $463,125.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy an Aamco Transmissions franchise. At the time of the loan, the company had 7 employees. The SBA loan documents indicated that the loan would help retain 7 existing jobs.

Next Steps for Getting an SBA Loan

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.

Related Links:

AAMCO Transmissions, Inc.

Equity Financing

SBA 7A Banks for Philadelphia, Pennsylvania Loans

Pennsylvania SBA Bank Lenders