Pennsylvania Entrepreneur Secures Financing to Buy Maaco Auto Painting Center Franchise
Borrowing money to purchase a Maaco Auto Painting Center franchise? Washington Mutual Bank has a history of making these loans and they are guaranteed by the SBA.
If you live near Philadelphia, Pennsylvania 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 2002 by Washington Mutual Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.
SBA Loan Borrower
MAACO AUTO PAINTING & BODYWORK
PHILADELPHIA, PA 19136
SBA Loan Lender
WASHINGTON MUTUAL BANK
2273 N GREEN VALLEY PKWY, STE
HENDERSON, NV 89014
This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.
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
3/28/2002
Loan Approval Gross Amount
$225,000
Loan Approval from the SBA
Of the total $225,000 loan amount, the SBA guaranteed $168,750.
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 only one employee. This SBA loan request indicated that the loan would help generate 8 new jobs and retain 8 existing jobs.
Next Steps for Getting an SBA Loan
SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.
Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.
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.
Understanding Dilution
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