Utah Entrepreneur Secures Financing to Buy Big O Tires dealers Franchise

Need a loan to invest in a Big O Tires dealers franchise? Wells Fargo Bank has a history of making these loans and they are guaranteed by the SBA.

Big O Tires dealers franchise loans are available to West Jordan, Utah entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Wells Fargo Bank, based in Salt Lake City, Utah, issued an SBA franchise loan for a Big O Tires dealers franchise in 2000. We've got all the details on this Utah small business loan.

SBA Loan Borrower

B & R CO LLC
WEST JORDAN, UT 84088

SBA Loan Lender

WELLS FARGO BANK
405 S MAIN ST
SALT LAKE CITY, UT 84111

This lender processed this bank loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

SIC Code

7549 - Automotive Services

Loan Approval Date

5/24/2000

Loan Approval Gross Amount

$35,400

Loan Approval from the SBA

Of the total $35,400 loan amount, the SBA guaranteed $17,700.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Big O Tires dealers franchise. At the time of the loan, the company had 16 employees. This SBA loan request indicated that the loan would help retain 16 existing 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.

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.

Related Links:

Big O Tires, Inc.

How Equity Dilution Works

Small Business Banks in Salt Lake City, Utah

SBA Participating Banks in Utah