Borrow Money to Buy a Liberty Tax Service Franchise

Need a loan to purchase a Liberty Tax Service franchise? Susquehanna Bank Dv has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Liberty Tax Service franchise may simply require a phone call to a local SBA banker. In 2004, Susquehanna Bank Dv issued an SBA franchise loan to an entrepreneur in Downingtown, Pennsylvania. Because Liberty Tax Service was registered with the SBA's registry of franchises, this Pennsylvania small business loan was issued on an expedited basis.

SBA Loan Borrower

LIBERTY TAX SERVICE
DOWNINGTOWN, PA 19335

SBA Loan Lender

SUSQUEHANNA BANK DV
HIGH & HANOVER STS
POTTSTOWN, PA 19464

This lender provides SBA guaranteed bank loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541213 - Tax Preparation Services

Loan Approval Date

1/30/2004

Loan Approval Gross Amount

$80,000

Loan Approval from the SBA

Of the total $80,000 loan amount, the SBA guaranteed $68,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Liberty Tax Service franchise. At the time of the loan, the company had 10 employees. The SBA loan documents indicated that the loan would help generate 5 new jobs and retain 15 existing jobs.

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.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Liberty Tax Service

Accountant's Role in Securing Financing

SBA Approved Banks in Pottstown, Pennsylvania

SBA Pennsylvania Banks