Citizens Bank Provides SBA Loan to Buy Merry Maids Franchise

Borrowing money to purchase a Merry Maids franchise? Citizens Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Merry Maids franchise? If so, here's a 2003 SBA franchise loan that you should know about. Citizens Bank was the lender and the entrepreneur was based in Abilene, Texas.

SBA Loan Borrower

MERRY MAIDS OF ABILENE
ABILENE, TX 79602

SBA Loan Lender

CITIZENS BANK
4201 S TREADAWAY BLVD
ABILENE, TX 79602

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

561720 - Janitorial Services

Loan Approval Date

9/15/2003

Loan Approval Gross Amount

$31,700

Loan Approval from the SBA

Of the total $31,700 loan amount, the SBA guaranteed $26,945.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Merry Maids franchise. At the time of the loan, the company had 18 employees. The loan application did not indicate that the company planned to use the funding to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you are wondering how to find money to start a business or need money to grow a business, an SBA loan can be a great way to raise money

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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