Borrow Money to Buy a Line-X Franchise

Borrowing money to invest in a Line-X franchise? Madison Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Line-X franchise may simply require a phone call to a local SBA banker. In 2006, Madison Bank issued an SBA franchise loan to an entrepreneur in Richmond, Kentucky. Because Line-X was registered with the SBA's registry of franchises, this Kentucky small business loan was issued on an expedited basis.

SBA Loan Borrower

LINE-X OF RICHMOND
RICHMOND, KY 40475

SBA Loan Lender

MADISON BANK
660 UNIVERSITY SHOPPING CTR,
RICHMOND, KY 40475

This SBA bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7549 - Automotive Services

NAICS Code

811198 - Automotive Repair and Maintenance

Loan Approval Date

7/10/2006

Loan Approval Gross Amount

$114,300

Loan Approval from the SBA

Of the total $114,300 loan amount, the SBA guaranteed $97,155.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Line-X franchise. At the time of the loan, the company had 2 employees. The loan application did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Madison Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Line-X Corp.

Business Line of Credit

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