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May 4, 2024 |
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| Home > Small Business Lenders by State > West Virginia Business Loan Sources > Winston Salem, Business Loans > Branch Bank & Trust Winston Salem Business Loans > Servpro Loan | ||||
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Tips for Getting a Franchise Loan
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Kenova, WV Entrepreneur Gets SBA Loan to Buy Servpro FranchiseNeed money to buy a Servpro franchise? Branch Bank & Trust has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Kenova, West Virginia needed money to invest in a Servpro franchise back in 2008. Branch Bank & Trust issued an SBA franchise loan. Here are the details on this West Virginia small business loan. SBA Loan Borrower SERVPRO SBA Loan Lender BRANCH BANK & TRUST 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 238990 - Specialty Trade Contractors Loan Approval Date 1/10/2008 Loan Approval Gross Amount $87,000 Loan Approval from the SBA Of the total $87,000 loan amount, the SBA guaranteed $43,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Servpro franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help generate 10 new jobs and retain 1 existing job. Start the Process for Getting an SBA Loan Today! SBA loans provide money to small business owners for working capital for other expenses. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: SBA 7A Lenders in Winston Salem, North Carolina
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