Georgia Entrepreneur Secures Financing to Buy Servicemaster Franchise

Borrowing money to invest in a Servicemaster franchise? Ameris Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Servicemaster franchise? If so, here's a 2005 SBA franchise loan that you should know about. Ameris Bank was the lender and the entrepreneur was based in Saint Marys, Georgia.

SBA Loan Borrower

SERVICE MASTER (RANDI KRAMER)
SAINT MARYS, GA 31558

SBA Loan Lender

AMERIS BANK
1603 HWY 40 EAST
KINGSLAND, GA 31548

This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with borrowing money. The low-doc program is quick, requiring 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.

NAICS Code

624230 - Emergency and Relief Services

Loan Approval Date

1/4/2005

Loan Approval Gross Amount

$125,400

Loan Approval from the SBA

Of the total $125,400 loan amount, the SBA guaranteed $106,590.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Servicemaster franchise. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Ameris Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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.

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