Reno, NV Entrepreneur Gets SBA Loan to Buy Tilden For Brakes Car Care Center Franchise

Borrowing money to buy a Tilden For Brakes Car Care Center franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Reno, Nevada needed money to invest in a Tilden For Brakes Car Care Center franchise back in 2004. Cit Small Business Lending Corp issued an SBA franchise loan. Here are the details on this Nevada small business loan.

SBA Loan Borrower

TILDEN COMPLETE CAR CARE
RENO, NV 89511

SBA Loan Lender

CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

4/26/2004

Loan Approval Gross Amount

$185,600

Loan Approval from the SBA

Of the total $185,600 loan amount, the SBA guaranteed $139,200.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Tilden For Brakes Car Care Center franchise. At the time of the loan, the company had 3 employees. This SBA loan request indicated that the borrowed money would help generate 3 new jobs.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you want money to buy a franchise? 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.

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