Michigan Entrepreneur Secures Financing to Buy Matco Tools rent Tools Franchise

Need a loan to purchase a Matco Tools rent Tools franchise? Citizens First Savings Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Matco Tools rent Tools franchise shouldn't be too tough. In 2007, Citizens First Savings Bank issued an SBA franchise loan to an entrepreneur in Ruby, Michigan. Because Matco Tools rent Tools was registered with the SBA's registry of franchises, this Michigan small business loan was issued on an expedited basis.

SBA Loan Borrower

C A BARRAND INC
RUBY, MI 48049

SBA Loan Lender

CITIZENS FIRST SAVINGS BANK
525 WATER ST
PORT HURON, MI 48060

This SBA 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.

NAICS Code

444130 - Hardware Stores

Loan Approval Date

10/22/2007

Loan Approval Gross Amount

$30,000

Loan Approval from the SBA

Of the total $30,000 loan amount, the SBA guaranteed $25,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 application for the borrower indicated that the loan would help retain 1 existing job.

Start the Process for Getting an SBA Loan Today!

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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