Bentonia, MS Entrepreneur Gets SBA Loan to Buy Servpro Franchise

Need money to purchase a Servpro franchise? Bankplus has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Servpro franchise? If so, here's a 2002 SBA franchise loan that you should know about. Bankplus was the lender and the entrepreneur was based in Bentonia, Mississippi.

SBA Loan Borrower

SERVPRO
BENTONIA, MS 39040

SBA Loan Lender

BANKPLUS
4837 MAIN ST
FLORA, MS 39071

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.

SIC Code

7217 - Carpet and Upholstery Cleaning

NAICS Code

561740 - Carpet and Upholstery Cleaning Services

Loan Approval Date

8/23/2002

Loan Approval Gross Amount

$141,000

Loan Approval from the SBA

Of the total $141,000 loan amount, the SBA guaranteed $119,850.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Servpro franchise. At the time of the loan, the company had only one employee. The loan application did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide smart, affordable business financing for small businesses looking to expand.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Bankplus had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Bankplus 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:

ServPro

Obtaining Funding - How to Borrow Money

SBA Banks in Flora, Mississippi

Find an SBA Lender in Mississippi