Tucson, AZ Entrepreneur Gets SBA Loan to Buy Mac Tools Franchise

Need money to invest in 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 Tucson, Arizona. Because Mac Tools was registered with the SBA's registry of franchises, this Arizona small business loan was issued on an expedited basis.

SBA Loan Borrower

MAC TOOLS
TUCSON, AZ 85711

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

3423 - Hand and Edge Tools

NAICS Code

332212 - Hand and Edge Tool Manufacturing

Loan Approval Date

5/12/2000

Loan Approval Gross Amount

$68,700

Loan Approval from the SBA

Of the total $68,700 loan amount, the SBA guaranteed $54,960.

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. The loan application indicated that the loan would help retain 1 existing job.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

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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