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April 28, 2024 |
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| Home > Small Business Lenders by State > Mississippi Business Loan Sources > Ocean Springs, Business Loans > Merchants & Marine Bank Ocean Springs Business Loans > Gold Coast Service Master Loan | ||||
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Ocean Springs, Mississippi Bank for SBA Loans
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Ocean Springs, MS Entrepreneur Gets SBA Loan to Buy Servicemaster FranchiseNeed money to buy a Servicemaster franchise? Merchants & Marine Bank has a history of making these loans and they are guaranteed by the SBA. Servicemaster franchise loans are available to Ocean Springs, Mississippi entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Merchants & Marine Bank, based in Ocean Springs, Mississippi, issued an SBA franchise loan for a Servicemaster franchise in 2003. We've got all the details on this Mississippi small business loan. SBA Loan Borrower GOLD COAST SERVICE MASTER SBA Loan Lender MERCHANTS & MARINE BANK This was a Low Documentation SBA loan. The SBA launched 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. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7217 - Carpet and Upholstery Cleaning NAICS Code 561740 - Carpet and Upholstery Cleaning Services Loan Approval Date 2/5/2003 Loan Approval Gross Amount $90,000 Loan Approval from the SBA Of the total $90,000 loan amount, the SBA guaranteed $76,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Servicemaster franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the business planned to use the money to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: Who Lends Money to Small Businesses in Ocean Springs, Mississippi
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