Merrill Lynch Bank Usa Provides SBA Loan to Buy Matco Tools rent Tools Franchise

Need a loan to invest in a Matco Tools rent Tools franchise? Merrill Lynch Bank Usa has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Matco Tools rent Tools franchise requires some effort but others before you have been successful. In 2002, Merrill Lynch Bank Usa issued an SBA franchise loan to an entrepreneur in North Canton, Ohio. Because Matco Tools rent Tools was registered with the SBA's registry of franchises, this Ohio small business loan was issued on an expedited basis.

SBA Loan Borrower

MATCO TOOLS
NORTH CANTON, OH 44720

SBA Loan Lender

MERRILL LYNCH BANK USA
15 W SOUTH TEMPLE, STE 300
SALT LAKE CITY, UT 84101

This lender provides SBA business loans 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

454390 - Direct Selling Establishments

Loan Approval Date

12/18/2002

Loan Approval Gross Amount

$132,700

Loan Approval from the SBA

Of the total $132,700 loan amount, the SBA guaranteed $112,795.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Matco Tools rent Tools franchise. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help retain 1 existing job.

Next Steps for Getting an SBA Loan

Remember, 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.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Merrill Lynch Bank Usa so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Matco Tools

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Where to Get an SBA Loan in Salt Lake City, Utah

SBA Lenders in Utah