Loan to Buy Millicare Environmental Services Franchise Issued By National City Bank
Need money to buy a Millicare Environmental Services franchise? National City Bank has a history of making these loans and they are guaranteed by the SBA.
Want to borrow money to buy a Millicare Environmental Services franchise? If so, here's a 2003 SBA franchise loan that you should know about. National City Bank was the lender and the entrepreneur was based in Verona, Pennsylvania.
SBA Loan Borrower
VERONA, PA 15147
SBA Loan Lender
NATIONAL CITY BANK
20 STANWIX ST, NATIONAL CITY
PITTSBURGH, PA 15222
This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.
SBA Loan Program Type
This loan was issued as a general business loan.
7217 - Carpet and Upholstery Cleaning
561740 - Carpet and Upholstery Cleaning Services
Loan Approval Date
Loan Approval Gross Amount
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 Millicare Environmental Services franchise. At the time of the loan, the company
had 5 employees. The loan application did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees.
Getting an SBA Loan For Your Business
Although it's called an SBA loan, you 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.
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.
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