Borrow Money to Buy a Midas Muffler Shop Franchise

Borrowing money to purchase a Midas Muffler Shop franchise? Wells Fargo Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Midas Muffler Shop franchise is doable. In 2000, Wells Fargo Bank issued an SBA franchise loan to an entrepreneur in Rapid City, South Dakota. Because Midas Muffler Shop was registered with the SBA's registry of franchises, this South Dakota small business loan was issued on an expedited basis.

SBA Loan Borrower

MIDAS MUFFLER
RAPID CITY, SD 57703

SBA Loan Lender

WELLS FARGO BANK
2329 CENTRAL AVE NE
MINNEAPOLIS, MN 55418

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.

SIC Code

7533 - Automotive Exhaust System Repair Shops

NAICS Code

811112 - Automotive Exhaust System Repair

Loan Approval Date

5/4/2000

Loan Approval Gross Amount

$276,200

Loan Approval from the SBA

Of the total $276,200 loan amount, the SBA guaranteed $207,150.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Midas Muffler Shop franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help retain 3 existing jobs.

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

SBA loans provide smart, affordable business financing for small businesses looking to expand.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Midas International Corporation

Obtaining Funding - Getting Venture Capital

SBA Participating Banks in Minneapolis, Minnesota

SBA Lenders in Minnesota