Brook Park, OH Entrepreneur Gets SBA Loan to Buy Servicemaster Franchise

Borrowing money to buy a Servicemaster franchise? Jpmorgan Chase Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Servicemaster franchise is doable. In 2004, Jpmorgan Chase Bank issued an SBA franchise loan to an entrepreneur in Brook Park, Ohio. Because Servicemaster was registered with the SBA's registry of franchises, this Ohio small business loan was issued on an expedited basis.

SBA Loan Borrower

A-TEAM, LLC
BROOK PARK, OH 44142

SBA Loan Lender

JPMORGAN CHASE BANK
811 RUSK ST., 16TH FL
HOUSTON, TX 77002

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

561790 - Services to Buildings and Dwellings

Loan Approval Date

9/30/2004

Loan Approval Gross Amount

$400,000

Loan Approval from the SBA

Of the total $400,000 loan amount, the SBA guaranteed $200,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Servicemaster franchise. At the time of the loan, the company had 12 employees. The SBA loan documents did not indicate that the business planned to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $400,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

ServiceMaster Clean

Direct Public Offerings

Find an SBA Lender in Houston, Texas

Where to Get an SBA Loan Texas