California Entrepreneur Secures Financing to Buy Servpro Franchise

Borrowing money to purchase a Servpro franchise? Telesis Community Cu has a history of making these loans and they are guaranteed by the SBA.

If you live near Canyon Country, California and are interested in buying a Servpro franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2004 by Telesis Community Cu. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

SERVPRO OF GLENDALE
CANYON COUNTRY, CA 91387

SBA Loan Lender

TELESIS COMMUNITY CU
9301 WINNETKA AVE
CHATSWORTH, CA 91311

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.

NAICS Code

561790 - Services to Buildings and Dwellings

Loan Approval Date

6/17/2004

Loan Approval Gross Amount

$104,000

Loan Approval from the SBA

Of the total $104,000 loan amount, the SBA guaranteed $88,400.

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 2 employees. The SBA loan application for the borrower did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you need money to start a small business or already have a business and need money to expand, an SBA loan can be a great source of funding.

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.

Related Links:

ServPro

SBIR Funding

SBA Participating Banks in Chatsworth, California

SBA Lenders in California