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May 4, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Paintsville, Business Loans > City National Bank - W. Virginia Paintsville Business Loans > Servpro Of Chillicothe Loan | ||||
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Ironton, Ohio Bank Loan
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City National Bank - W. Virginia Provides SBA Loan to Buy Servpro FranchiseNeed money to buy a Servpro franchise? City National Bank - W. Virginia has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Servpro franchise shouldn't be too tough. In 2000, City National Bank - W. Virginia issued an SBA franchise loan to an entrepreneur in Ironton, Ohio. Because Servpro was registered with the SBA's registry of franchises, this Ohio small business loan was issued on an expedited basis. SBA Loan Borrower SERVPRO OF CHILLICOTHE SBA Loan Lender CITY NATIONAL BANK - W. VIRGINIA This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7349 - Building Cleaning and Maintenance Services, N.E.C Loan Approval Date 8/21/2000 Loan Approval Gross Amount $70,500 Loan Approval from the SBA Of the total $70,500 loan amount, the SBA guaranteed $56,400. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Servpro franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees. 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. We can help you find the best banks for small businesses in Ironton or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Obtaining Funding - Friends and Family Best Banks in Paintsville, Kentucky
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