Loan to Buy Mac Tools Franchise Issued By Ge Cap. Small Business Finan Corp

Need money to purchase a Mac Tools franchise? Ge Cap. Small Business Finan Corp has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Mac Tools franchise may simply require a phone call to a local SBA banker. In 2000, Ge Cap. Small Business Finan Corp issued an SBA franchise loan to an entrepreneur in Sonoma, California. Because Mac Tools was registered with the SBA's registry of franchises, this California small business loan was issued on an expedited basis.

SBA Loan Borrower

MICHAEL A CROSIER AND KIMBERLY
SONOMA, CA 95476

SBA Loan Lender

GE CAP. SMALL BUSINESS FINAN CORP
635 MARYVILLE CENTRE DR, STE
ST. LOUIS, MO 63141

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.

SIC Code

5999 - Retail Stores

Loan Approval Date

7/3/2000

Loan Approval Gross Amount

$90,900

Loan Approval from the SBA

Of the total $90,900 loan amount, the SBA guaranteed $72,720.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Mac Tools franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help retain 1 existing job.

Great, But How Can I Get an SBA Loan for My 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.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Ge Cap. Small Business Finan Corp and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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