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May 3, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Villanova, Business Loans > Sovereign Bank Villanova Business Loans > Case Handyman Services Of Cent Loan | ||||
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Requirements for Borrowing Money to Buy a Franchise
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Borrow Money to Buy a Case Handyman Services FranchiseBorrowing money to purchase a Case Handyman Services franchise? Sovereign Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Auburn, Massachusetts needed money to invest in a Case Handyman Services franchise back in 2005. Sovereign Bank issued an SBA franchise loan. Here are the details on this Massachusetts small business loan. SBA Loan Borrower CASE HANDYMAN SERVICES OF CENT SBA Loan Lender SOVEREIGN BANK This debt financing was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours. 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 236118 - Residential Remodelers Loan Approval Date 4/11/2005 Loan Approval Gross Amount $125,000 Loan Approval from the SBA Of the total $125,000 loan amount, the SBA guaranteed $62,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Case Handyman Services franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help generate 5 new jobs and retain 1 existing job. Getting an SBA Loan For Your Business Every year, the SBA guarantees over $10 billion for loans just like this one. 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: Best Banks in Villanova, Pennsylvania
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