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November 15, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Providence, Business Loans > Bank Of America Providence Business Loans > Meineke Car Care Center Loan | ||||
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Where to Get an SBA 7A Loan to Purchase a Franchise
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Bank Of America Provides SBA Loan to Buy Meineke Discount Muffler FranchiseNeed a loan to purchase a Meineke Discount Muffler franchise? Bank Of America has a history of making these loans and they are guaranteed by the SBA. Meineke Discount Muffler franchise loans are available to Selden, New York entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Bank Of America, based in Providence, Rhode Island, issued an SBA franchise loan for a Meineke Discount Muffler franchise in 2003. We've got all the details on this New York small business loan. SBA Loan Borrower MEINEKE CAR CARE CENTER SBA Loan Lender BANK OF AMERICA This lender processed this debt financing under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. 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 811112 - Automotive Exhaust System Repair Loan Approval Date 10/29/2003 Loan Approval Gross Amount $66,500 Loan Approval from the SBA Of the total $66,500 loan amount, the SBA guaranteed $33,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Meineke Discount Muffler franchise. At the time of the loan, the company had 3 employees. This SBA loan request indicated that the loan would help retain 3 existing jobs. Start the Process for Getting an SBA Loan Today! Many small businesses receive loans backed by the U.S. Small Business Administration. 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: Raising VC Money for Social Networking Companies Find an SBA Lender in Providence, Rhode Island Getting a Business Loan in Rhode Island
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