Loan to Buy Snap-On-Tools Franchise Issued By Marion County State Bank

Need a loan to buy a Snap-On-Tools franchise? Marion County State Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Snap-On-Tools franchise? If so, here's a 2000 SBA franchise loan that you should know about. Marion County State Bank was the lender and the entrepreneur was based in Pella, Iowa.

SBA Loan Borrower

RKKS TOOLS
PELLA, IA 80219

SBA Loan Lender

MARION COUNTY STATE BANK
800 MAIN ST
PELLA, IA 50219

This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with appliying for an SBA loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5251 - Hardware Stores

NAICS Code

444130 - Hardware Stores

Loan Approval Date

2/24/2000

Loan Approval Gross Amount

$92,000

Loan Approval from the SBA

Of the total $92,000 loan amount, the SBA guaranteed $73,600.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Snap-On-Tools franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower did not indicate that the company planned to use the funding to add employees or retain any existing employees.

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

SBA loans provide money to small business owners for working capital for other expenses.

This company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

Snap-on-Tools Company

Accountant's Role in Securing Financing

SBA 7A Banks in Pella, Iowa

Getting a Business Loan in Iowa