Walterboro, SC Entrepreneur Gets SBA Loan to Buy Meineke Discount Muffler Franchise

Need money to purchase a Meineke Discount Muffler franchise? Bank Of America has a history of making these loans and they are guaranteed by the SBA.

Meineke Discount Muffler franchise loans are available to Walterboro, South Carolina entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Bank Of America, based in Charlotte, North Carolina, issued an SBA franchise loan for a Meineke Discount Muffler franchise in 2000. We've got all the details on this South Carolina small business loan.

SBA Loan Borrower

MEINEKE DISCOUNT MUFFLER
WALTERBORO, SC 29488

SBA Loan Lender

BANK OF AMERICA
100 N TRYON ST
CHARLOTTE, NC 28255

This lender provides SBA small business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811112 - Automotive Exhaust System Repair

Loan Approval Date

12/21/2000

Loan Approval Gross Amount

$569,300

Loan Approval from the SBA

Of the total $569,300 loan amount, the SBA guaranteed $426,975.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Meineke Discount Muffler franchise. At the time of the loan, the company had 4 employees. This SBA loan request indicated that the loan would help create 4 new jobs.

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

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

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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Where to Get an SBA Loan North Carolina