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November 15, 2024 |
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| Home > Small Business Lenders by State > Tennessee Business Loan Sources > Murfreesboro, Business Loans > Pinnacle National Bank Murfreesboro Business Loans > Mr. Transmission/milex #514 Loan | ||||
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Business Loans for Nashville Small Business Owners
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Pinnacle National Bank Provides SBA Loan to Buy Mr. Transmission FranchiseNeed a loan to buy a Mr. Transmission franchise? Pinnacle National Bank has a history of making these loans and they are guaranteed by the SBA. If you live near Nashville, Tennessee and are interested in buying a Mr. Transmission franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2004 by Pinnacle National Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase. SBA Loan Borrower MR. TRANSMISSION/MILEX #514 SBA Loan Lender PINNACLE NATIONAL BANK 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. NAICS Code 811111 - General Automotive Repair Loan Approval Date 11/22/2004 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 a new business. This loan was used to buy a Mr. Transmission franchise. At the time of the loan, the company had 4 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans provide money to small business owners for working capital for other expenses. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Pinnacle National Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: SBA 7A Banks for Murfreesboro, Tennessee Loans
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