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December 18, 2024 |
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| Home > Small Business Lenders by State > Utah Business Loan Sources > Ogden, Business Loans > Bank Of Utah Ogden Business Loans > Maaco Painting And Body Works Loan | ||||
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SBA Franchise Lenders in Utah
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Utah Entrepreneur Secures Financing to Buy Maaco Auto Painting Center FranchiseBorrowing money to purchase a Maaco Auto Painting Center franchise? Bank Of Utah has a history of making these loans and they are guaranteed by the SBA. If you live near Sandy, Utah and are interested in buying a Maaco Auto Painting Center franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2002 by Bank Of Utah. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase. SBA Loan Borrower MAACO PAINTING AND BODY WORKS SBA Loan Lender BANK OF UTAH 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 811121 - Automotive Body, Paint, and Interior Repair and Maintenance Loan Approval Date 11/18/2002 Loan Approval Gross Amount $88,000 Loan Approval from the SBA Of the total $88,000 loan amount, the SBA guaranteed $74,800. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Maaco Auto Painting Center franchise. At the time of the loan, the company had 5 employees. The SBA loan documents indicated that the loan would help generate 5 new jobs and retain 5 existing jobs. Getting an SBA Loan For Your Business 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. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $88,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: Determining Proper Capital Structure for a Business Who Lends Money to Small Businesses in Ogden, Utah
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