Borrow Money to Buy a Cornwell Quality Tool Company,Inc Franchise

Borrowing money to invest in a Cornwell Quality Tool Company,Inc franchise? Citizens Comm. National has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Cornwell Quality Tool Company,Inc franchise shouldn't be overly burdensome. In 2007, Citizens Comm. National issued an SBA franchise loan to an entrepreneur in Versailles, Kentucky. Because Cornwell Quality Tool Company,Inc was registered with the SBA's registry of franchises, this Kentucky small business loan was issued on an expedited basis.

SBA Loan Borrower

CHAPMAN TOOLS LLC
VERSAILLES, KY 40383

SBA Loan Lender

CITIZENS COMM. NATIONAL
534 MARSAILLES RD
VERSAILLES, KY 40383

The lender provided this loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

423830 - Industrial Machinery and Equipment Merchant Wholesalers

Loan Approval Date

2/14/2007

Loan Approval Gross Amount

$36,900

Loan Approval from the SBA

Of the total $36,900 loan amount, the SBA guaranteed $18,450.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Cornwell Quality Tool Company,Inc franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help create 2 new jobs.

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

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

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 Citizens Comm. National 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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