Bay St. Louis, MS Entrepreneur Gets SBA Loan to Buy Servpro Franchise

Need a loan to buy a Servpro franchise? Hancock Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Bay St. Louis, Mississippi needed money to invest in a Servpro franchise back in 2004. Hancock Bank issued an SBA franchise loan. Here are the details on this Mississippi small business loan.

SBA Loan Borrower

SERV PRO OF PEARL RIVER
BAY ST. LOUIS, MS 39520

SBA Loan Lender

HANCOCK BANK
2510 14TH ST
GULFPORT, MS 39501

This lender processed this 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

561740 - Carpet and Upholstery Cleaning Services

Loan Approval Date

1/30/2004

Loan Approval Gross Amount

$66,700

Loan Approval from the SBA

Of the total $66,700 loan amount, the SBA guaranteed $33,350.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Servpro franchise. At the time of the loan, the company had 19 employees. The loan application indicated that the loan would help generate 1 new job and retain 19 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

ServPro

How Equity Dilution Works

Banks in Gulfport, Mississippi

Mississippi SBA Bank Lenders