Minnesota Entrepreneur Secures Financing to Buy Maaco Auto Painting Center Franchise

Borrowing money to buy a Maaco Auto Painting Center franchise? Premier Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Osseo, Minnesota and are interested in buying a Maaco Auto Painting Center franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2005 by Premier Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

MAACO COLLISION REPAIR
OSSEO, MN 55389

SBA Loan Lender

PREMIER BANK
301 CENTRAL AVE
OSSEO, MN 55369

This lender issued this particular business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811121 - Automotive Body, Paint, and Interior Repair and Maintenance

Loan Approval Date

3/16/2005

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 Maaco Auto Painting Center franchise. At the time of the loan, the company had 6 employees. The loan application did not indicate that the business planned to use the funding to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $150,000 loan. Remember, if it to be, it is up to me!

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:

MAACO Enterprises, Inc.

Advice on Getting a Small Business Loan

SBA 7A Lenders in Osseo, Minnesota

SBA Minnesota Lenders