Loan to Buy Cottman Transmission Franchise Issued By Branch Bank & Trust
Borrowing money to invest in a Cottman Transmission franchise? Branch Bank & Trust has a history of making these loans and they are guaranteed by the SBA.
If you live near Roanoke, Virginia and are interested in buying a Cottman Transmission franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2001 by Branch Bank & Trust. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.
SBA Loan Borrower
COTTMAN TRANSMISSION CENTER
ROANOKE, VA 24017
SBA Loan Lender
BRANCH BANK & TRUST
37 W CHURCH AVE
ROANOKE, VA 24011
This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
7538 - General Automotive Repair Shops
NAICS Code
811111 - General Automotive Repair
Loan Approval Date
11/8/2001
Loan Approval Gross Amount
$95,000
Loan Approval from the SBA
Of the total $95,000 loan amount, the SBA guaranteed $80,750.
More Information on This SBA Loan
The borrower borrowed this money for a new business. This loan was used to buy a Cottman Transmission franchise. At the time of the loan, the company
had 3 employees. The SBA loan documents did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.
We can help you find the best banks for small businesses in Roanoke or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.
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:
Cottman Transmissions
Attracting Investors
Good Banks for Small Business in Roanoke, Virginia
SBA Lenders in Virginia