Community So. Bank D.B.A Commun Provides SBA Loan to Buy Mr. Electric Franchise

Need money to purchase a Mr. Electric franchise? Community So. Bank D.B.A Commun has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Mr. Electric franchise may simply require a phone call to a local SBA banker. In 2007, Community So. Bank D.B.A Commun issued an SBA franchise loan to an entrepreneur in Arnold, Missouri. Because Mr. Electric was registered with the SBA's registry of franchises, this Missouri small business loan was issued on an expedited basis.

SBA Loan Borrower

MR. ELECTRIC
ARNOLD, MO 63010

SBA Loan Lender

COMMUNITY SO. BANK D.B.A COMMUN
625 S GAY ST, STE 450
KNOXVILLE, TN 37902

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This bank loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

221111 - Hydroelectric Power Generation

Loan Approval Date

6/27/2007

Loan Approval Gross Amount

$205,000

Loan Approval from the SBA

Of the total $205,000 loan amount, the SBA guaranteed $153,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Mr. Electric franchise. At the time of the loan, the company had 10 employees. The SBA loan documents indicated that the loan would help retain 10 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

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 $205,000 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.

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