Borrow Money to Buy a Midas Muffler Shop Franchise

Borrowing money to buy a Midas Muffler Shop franchise? Telesis Community Cu has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Midas Muffler Shop franchise? If so, here's a 2003 SBA franchise loan that you should know about. Telesis Community Cu was the lender and the entrepreneur was based in Newport Beach, California.

SBA Loan Borrower

MIDAS AUTO SERVICE EXPERTS
NEWPORT BEACH, CA 92660

SBA Loan Lender

TELESIS COMMUNITY CU
9301 WINNETKA AVE
CHATSWORTH, CA 91311

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811112 - Automotive Exhaust System Repair

Loan Approval Date

6/2/2003

Loan Approval Gross Amount

$645,000

Loan Approval from the SBA

Of the total $645,000 loan amount, the SBA guaranteed $483,750.

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 8 employees. The SBA loan documents did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

Don't apply for a loan directly with the SBA. You need to 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.

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:

Midas International Corporation

Determining Proper Capital Structure for a Business

Small Business Banks in Chatsworth, California

SBA Lenders in California