Loan to Buy Precision Tune Franchise Issued By Planters Bank & Trust - Virginia

Need a loan to invest in a Precision Tune franchise? Planters Bank & Trust - Virginia has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Staunton, Virginia needed money to invest in a Precision Tune franchise back in 2005. Planters Bank & Trust - Virginia issued an SBA franchise loan. Here are the details on this Virginia small business loan.

SBA Loan Borrower

PRECISION TUNE AUTO CARE (J3MI
STAUNTON, VA 24401

SBA Loan Lender

PLANTERS BANK & TRUST - VIRGINIA
24 S AUGUSTA ST
STAUNTON, VA 24401

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

5/4/2005

Loan Approval Gross Amount

$70,000

Loan Approval from the SBA

Of the total $70,000 loan amount, the SBA guaranteed $59,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Precision Tune franchise. At the time of the loan, the company had 7 employees. This SBA loan request did not indicate that the business planned to use the money to add employees or retain any existing employees.

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

Many small businesses receive loans backed by the U.S. Small Business Administration.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $70,000 loan. Remember, fight for what you want, and it will be yours!

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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