First Commun Bank Provides SBA Loan to Buy Lawn Doctor Franchise

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

Getting money to buy a Lawn Doctor franchise shouldn't be too tough. In 2003, First Commun Bank issued an SBA franchise loan to an entrepreneur in Kingsport, Tennessee. Because Lawn Doctor was registered with the SBA's registry of franchises, this Tennessee small business loan was issued on an expedited basis.

SBA Loan Borrower

LAWN DOCTOR OF KINGSPORT
KINGSPORT, TN 37665

SBA Loan Lender

FIRST COMMUN BANK
ONE COMMUNITY PL
BLUEFIELD, VA 24605

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide bank loans to American small businesses.

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

9/4/2003

Loan Approval Gross Amount

$70,000

Loan Approval from the SBA

Of the total $70,000 loan amount, the SBA guaranteed $59,500.

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 2 employees. This SBA loan request did not indicate that the business promised to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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