Loan to Buy Mr. Rooter Franchise Issued By The Frost National Bank

Need a loan to buy a Mr. Rooter franchise? The Frost National Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Austin, Texas needed money to invest in a Mr. Rooter franchise back in 2004. The Frost National Bank issued an SBA franchise loan. Here are the details on this Texas small business loan.

SBA Loan Borrower

MR. ROOTER PLUMBING CO. OF AUS
AUSTIN, TX 78708

SBA Loan Lender

THE FROST NATIONAL BANK
100 W HOUSTON ST
SAN ANTONIO, TX 78205

This lender issued this debt financing under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

238220 - Plumbing, Heating, and Air-Conditioning Contractors

Loan Approval Date

6/29/2004

Loan Approval Gross Amount

$433,900

Loan Approval from the SBA

Of the total $433,900 loan amount, the SBA guaranteed $325,425.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Mr. Rooter franchise. At the time of the loan, the company had 2 employees. The loan application did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. The Frost National Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, The Frost National Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Mr. Rooter Plumbing

Understanding Dilution

SBA Banks in San Antonio, Texas

Getting a Business Loan in Texas