Texas Entrepreneur Secures Financing to Buy Lawn Doctor Franchise

Borrowing money to purchase a Lawn Doctor franchise? Wachovia Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Haltom City, Texas needed money to invest in a Lawn Doctor franchise back in 2000. Wachovia Bank issued an SBA franchise loan. Here are the details on this Texas small business loan.

SBA Loan Borrower

LAWN DOCTOR OF KELLER-SOUTHLAK
HALTOM CITY, TX 76137

SBA Loan Lender

WACHOVIA BANK
3636 W NORTHGATE DR
IRVING, TX 75062

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

0782 - Lawn and Garden Services

NAICS Code

561730 - Landscaping Services

Loan Approval Date

6/1/2000

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $40,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Lawn Doctor franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 1 existing job.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Wachovia Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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