South Dakota Entrepreneur Secures Financing to Buy Big O Tires dealers Franchise

Borrowing money to buy a Big O Tires dealers franchise? Metabank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Big O Tires dealers franchise shouldn't be overly burdensome. In 2006, Metabank issued an SBA franchise loan to an entrepreneur in Sioux Falls, South Dakota. Because Big O Tires dealers was registered with the SBA's registry of franchises, this South Dakota small business loan was issued on an expedited basis.

SBA Loan Borrower

BIG O TIRE
SIOUX FALLS, SD 57105

SBA Loan Lender

METABANK
2500 S MINNESOTA AVE
SIOUX FALLS, SD 57105

This lender issued this loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

441320 - Tire Dealers

Loan Approval Date

4/27/2006

Loan Approval Gross Amount

$56,000

Loan Approval from the SBA

Of the total $56,000 loan amount, the SBA guaranteed $47,600.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Big O Tires dealers franchise. At the time of the loan, the company had 10 employees. This SBA loan request did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

If you need money to start a business or already have a business and need money to expand, an SBA loan can be a great source of funding.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Big O Tires, Inc.

Small Business Credit Cards

SBA Participating Banks in Sioux Falls, South Dakota

SBA Lenders in South Dakota