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November 15, 2024 |
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| Home > Small Business Lenders by State > Alabama Business Loan Sources > St. Louis, Business Loans > Ge Cap. Small Business Finan Corp St. Louis Business Loans > Matco Tools Loan | ||||
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Tips for Financing a Franchise
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Pinson, AL Entrepreneur Gets SBA Loan to Buy Matco Tools rent Tools FranchiseNeed money to invest in a Matco Tools rent Tools franchise? Ge Cap. Small Business Finan Corp has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Pinson, Alabama needed money to invest in a Matco Tools rent Tools franchise back in 2002. Ge Cap. Small Business Finan Corp issued an SBA franchise loan. Here are the details on this Alabama small business loan. SBA Loan Borrower MATCO TOOLS SBA Loan Lender GE CAP. SMALL BUSINESS FINAN CORP This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with getting a 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. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 454390 - Direct Selling Establishments Loan Approval Date 8/27/2002 Loan Approval Gross Amount $112,500 Loan Approval from the SBA Of the total $112,500 loan amount, the SBA guaranteed $95,625. 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 documents did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Ge Cap. Small Business Finan Corp 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: Best Banks for Small Business in St. Louis, Missouri
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