Tcf National Bank Provides SBA Loan to Buy Snap-On-Tools Franchise

Need money to purchase a Snap-On-Tools franchise? Tcf National Bank has a history of making these loans and they are guaranteed by the SBA.

Snap-On-Tools franchise loans are available to Wheat Ridge, Colorado entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Tcf National Bank, based in Wayzata, Minnesota, issued an SBA franchise loan for a Snap-On-Tools franchise in 2005. We've got all the details on this Colorado small business loan.

SBA Loan Borrower

BILL'S TOOL CONNECTION, INC
WHEAT RIDGE, CO 80033

SBA Loan Lender

TCF NATIONAL BANK
200 LAKE ST EAST
WAYZATA, MN 55391

This lender issued this particular business loan 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.

NAICS Code

444130 - Hardware Stores

Loan Approval Date

5/13/2005

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Snap-On-Tools franchise. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Tcf National Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Tcf National Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Snap-on-Tools Company

Alternative Financing

SBA Banks in Wayzata, Minnesota

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