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November 22, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Wyomissing, Business Loans > Vist Bank Wyomissing Business Loans > Furniture Medic Loan | ||||
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Where to Get a Small Business Loan to Purchase a Franchise
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Vist Bank Provides SBA Loan to Buy Servicemaster FranchiseNeed a loan to invest in a Servicemaster franchise? Vist Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Bernville, Pennsylvania needed money to invest in a Servicemaster franchise back in 2002. Vist Bank issued an SBA franchise loan. Here are the details on this Pennsylvania small business loan. SBA Loan Borrower FURNITURE MEDIC SBA Loan Lender VIST BANK This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7641 - Reupholstery and Furniture Repair NAICS Code 811420 - Reupholstery and Furniture Repair Loan Approval Date 9/16/2002 Loan Approval Gross Amount $73,000 Loan Approval from the SBA Of the total $73,000 loan amount, the SBA guaranteed $62,050. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Servicemaster franchise. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the small business promised to use the money to add employees or retain any existing employees. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Vist Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: SBA 7A Banks for Wyomissing, Pennsylvania Loans
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