Borrow Money to Buy a Line-X Franchise

Need money to purchase a Line-X franchise? Keybank National Association has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Line-X franchise? If so, here's a 2002 SBA franchise loan that you should know about. Keybank National Association was the lender and the entrepreneur was based in Schenectady, New York.

SBA Loan Borrower

CAPITAL DISTRICT LINE X LLC
SCHENECTADY, NY 12303

SBA Loan Lender

KEYBANK NATIONAL ASSOCIATION
127 PUBLIC SQ
CLEVELAND, OH 44114

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

441310 - Automotive Parts and Accessories Stores

Loan Approval Date

3/15/2002

Loan Approval Gross Amount

$60,500

Loan Approval from the SBA

Of the total $60,500 loan amount, the SBA guaranteed $30,250.

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 indicated that the loan would help generate 4 new jobs and retain 4 existing jobs.

Getting an SBA Loan For Your Business

If you need money to start business in Schenectady NY, you ought to talk with a local Schenectady SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Schenectady businesses.

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.

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