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May 7, 2024 |
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| Home > Small Business Lenders by State > Alabama Business Loan Sources > Gadsden, Business Loans > Superior Bank Gadsden Business Loans > Servpro Loan | ||||
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Where to Get a Business Loan to Purchase a Franchise
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Rainbow City, AL Entrepreneur Gets SBA Loan to Buy Servpro FranchiseNeed a loan to invest in a Servpro franchise? Superior Bank has a history of making these loans and they are guaranteed by the SBA. Want to borrow money to buy a Servpro franchise? If so, here's a 2003 SBA franchise loan that you should know about. Superior Bank was the lender and the entrepreneur was based in Rainbow City, Alabama. SBA Loan Borrower SERVPRO SBA Loan Lender SUPERIOR BANK This loan was provided by a banker with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loan requests to the SBA get more expeditious service from the SBA on their loan applications. 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 7/22/2003 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 a new business. This loan was used to buy a Servpro franchise. At the time of the loan, the company had 8 employees. The SBA loan application for the borrower did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Superior Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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 Gadsden, Alabama
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