Jpmorgan Chase Bank Provides SBA Loan to Buy Servicemaster Franchise

Need money to buy a Servicemaster franchise? Jpmorgan Chase Bank has a history of making these loans and they are guaranteed by the SBA.

Servicemaster franchise loans are available to Champaign, Illinois entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Jpmorgan Chase Bank, based in Houston, Texas, issued an SBA franchise loan for a Servicemaster franchise in 2004. We've got all the details on this Illinois small business loan.

SBA Loan Borrower

SERVICEMASTER OF CHAMPAIGN/URB
CHAMPAIGN, IL 61822

SBA Loan Lender

JPMORGAN CHASE BANK
811 RUSK ST., 16TH FL
HOUSTON, TX 77002

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

561790 - Services to Buildings and Dwellings

Loan Approval Date

9/7/2004

Loan Approval Gross Amount

$655,100

Loan Approval from the SBA

Of the total $655,100 loan amount, the SBA guaranteed $491,325.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Servicemaster franchise. At the time of the loan, the company had 75 employees. The SBA loan application for the borrower indicated that the loan would help retain 75 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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.

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