Oklahoma Entrepreneur Secures Financing to Buy Handyman Matters Franchise

Need a loan to buy a Handyman Matters franchise? First Finan Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Handyman Matters franchise shouldn't be too tough. In 2006, First Finan Bank issued an SBA franchise loan to an entrepreneur in Altus, Oklahoma. Because Handyman Matters was registered with the SBA's registry of franchises, this Oklahoma small business loan was issued on an expedited basis.

SBA Loan Borrower

HANDYMAN MATTERS OF CINCINNATI
ALTUS, OK 73521

SBA Loan Lender

FIRST FINAN BANK
300 HIGH ST
HAMILTON, OH 45012

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

238990 - Specialty Trade Contractors

Loan Approval Date

12/8/2006

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Handyman Matters franchise. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the borrowed money would help create 3 new jobs.

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

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

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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Handyman Matters Franchise Corporation

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