North Salem State Bank Provides SBA Loan to Buy Heaven's Best Franchise

Need a loan to invest in a Heaven's Best franchise? North Salem State Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Advance, Indiana needed money to invest in a Heaven's Best franchise back in 2006. North Salem State Bank issued an SBA franchise loan. Here are the details on this Indiana small business loan.

SBA Loan Borrower

HEAVEN'S BEST CARPET AND UPHOL
ADVANCE, IN 48102

SBA Loan Lender

NORTH SALEM STATE BANK
7 N BROADWAY ST
NORTH SALEM, IN 46165

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

561740 - Carpet and Upholstery Cleaning Services

Loan Approval Date

9/20/2006

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $20,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Heaven's Best franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help retain 2 existing jobs.

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.

This SBA loan was for $40,000. How would you spend $40,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Heaven's Best Carpet/Uphol. Cleaning

Business Incubators

Good Banks for Small Business in North Salem, Indiana

Indiana SBA Bank Lenders