Borrow Money to Buy a Matco Tools rent Tools Franchise

Borrowing money 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.

Matco Tools rent Tools franchise loans are available to Phenix City, Alabama entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Merrill Lynch Bank Usa, based in Salt Lake City, Utah, issued an SBA franchise loan for a Matco Tools rent Tools franchise in 2000. We've got all the details on this Alabama small business loan.

SBA Loan Borrower

MATCO TOOLS
PHENIX CITY, AL 36870

SBA Loan Lender

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

This lender issued this SBA loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5531 - Auto and Home Supply Stores

Loan Approval Date

7/5/2000

Loan Approval Gross Amount

$57,000

Loan Approval from the SBA

Of the total $57,000 loan amount, the SBA guaranteed $45,600.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 SBA loan application for the borrower did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

If you have been wondering how do i get money to start a business in Phenix City AL, you ought to talk with a local Phenix City SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Phenix City businesses.

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 Merrill Lynch Bank Usa 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.

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