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November 21, 2024 |
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| Home > Small Business Lenders by State > Colorado Business Loan Sources > Irving, Business Loans > Citicapital Small Business Finance Irving Business Loans > Authorized Distributor Matco T Loan | ||||
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Where to Get an SBA Loan to Purchase a Franchise
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Borrow Money to Buy a Matco Tools rent Tools FranchiseNeed a loan to buy a Matco Tools rent Tools franchise? Citicapital Small Business Finance has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Matco Tools rent Tools franchise may simply require a phone call to a local SBA banker. In 2000, Citicapital Small Business Finance issued an SBA franchise loan to an entrepreneur in Westminister, Colorado. Because Matco Tools rent Tools was registered with the SBA's registry of franchises, this Colorado small business loan was issued on an expedited basis. SBA Loan Borrower AUTHORIZED DISTRIBUTOR MATCO T SBA Loan Lender CITICAPITAL SMALL BUSINESS FINANCE This lender issued this particular debt financing under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5531 - Auto and Home Supply Stores Loan Approval Date 1/21/2000 Loan Approval Gross Amount $56,000 Loan Approval from the SBA Of the total $56,000 loan amount, the SBA guaranteed $44,800. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Matco Tools rent Tools franchise. At the time of the loan, the company had only one employee. This SBA loan request did not indicate that the company planned to use the funding to add employees or retain any existing employees. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. 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: Where to Get an SBA Loan in Irving, Texas SBA Participating Banks in Texas
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