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December 21, 2024 |
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| Home > Small Business Lenders by State > Oregon Business Loan Sources > Charlotte, Business Loans > Bank Of America Charlotte Business Loans > Tcb Tools & Equipment Loan | ||||
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Loans to Buy a Franchise in Oregon
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Borrow Money to Buy a Matco Tools rent Tools FranchiseBorrowing money to buy a Matco Tools rent Tools franchise? Bank Of America has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Salem, Oregon needed money to invest in a Matco Tools rent Tools franchise back in 2003. Bank Of America issued an SBA franchise loan. Here are the details on this Oregon small business loan. SBA Loan Borrower TCB TOOLS & EQUIPMENT SBA Loan Lender BANK OF AMERICA The lender provided this SBA loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 423710 - Hardware Merchant Wholesalers Loan Approval Date 7/9/2003 Loan Approval Gross Amount $26,600 Loan Approval from the SBA Of the total $26,600 loan amount, the SBA guaranteed $13,300. 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 forget. To get an SBA loan, you must 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. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Borrowing Money from Friends and Family SBA Participating Banks in Charlotte, North Carolina North Carolina SBA Bank Lenders
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