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April 17, 2024 |
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| Home > Small Business Lenders by State > Indiana Business Loan Sources > South Bend, Business Loans > 1st Source Bank South Bend Business Loans > Roto Rooter Loan | ||||
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Mishawaka, Indiana Bank Loan
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Loan to Buy Roto Rooter Franchise Issued By 1st Source BankNeed money to invest in a Roto Rooter franchise? 1st Source Bank has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Roto Rooter franchise is doable. In 2006, 1st Source Bank issued an SBA franchise loan to an entrepreneur in Mishawaka, Indiana. Because Roto Rooter was registered with the SBA's registry of franchises, this Indiana small business loan was issued on an expedited basis. SBA Loan Borrower ROTO ROOTER SBA Loan Lender 1ST SOURCE BANK This lender processed this SBA bank loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. 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 238220 - Plumbing, Heating, and Air-Conditioning Contractors Loan Approval Date 12/6/2006 Loan Approval Gross Amount $141,700 Loan Approval from the SBA Of the total $141,700 loan amount, the SBA guaranteed $70,850. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Roto Rooter franchise. At the time of the loan, the company had 12 employees. The SBA loan application for the borrower indicated that the loan would help retain 12 existing jobs. Start the Process for Getting an SBA Loan Today! Many small businesses receive loans backed by the U.S. Small Business Administration. 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: Advice on Getting a Small Business Loan Where to Get an SBA Loan in South Bend, Indiana
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