Overland Park, KS Entrepreneur Gets SBA Loan to Buy Chem-Dry Franchise

Need money to purchase a Chem-Dry franchise? Bank Of Blue Valley has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Chem-Dry franchise requires some effort but others before you have been successful. In 2002, Bank Of Blue Valley issued an SBA franchise loan to an entrepreneur in Overland Park, Kansas. Because Chem-Dry was registered with the SBA's registry of franchises, this Kansas small business loan was issued on an expedited basis.

SBA Loan Borrower

CHEM-DRY OF OLATHE & SHAWNEE M
OVERLAND PARK, KS 66224

SBA Loan Lender

BANK OF BLUE VALLEY
11935 RILEY ST
OVERLAND PARK, KS 66213

This was a Low Documentation SBA loan. The SBA created this program to limit 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.

NAICS Code

561740 - Carpet and Upholstery Cleaning Services

Loan Approval Date

8/5/2002

Loan Approval Gross Amount

$40,800

Loan Approval from the SBA

Of the total $40,800 loan amount, the SBA guaranteed $34,680.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Chem-Dry franchise. At the time of the loan, the company had 6 employees. The SBA loan documents did not indicate that the business planned to use the funding to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $40,800 loan. Remember, you control your own destiny.

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:

Chem-Dry Carpet & Upholstery Cleaning

Obtaining Funding - How to Borrow Money

Good Banks for Small Business in Overland Park, Kansas

Getting an SBA Loan in Kansas