Corbin, KY Entrepreneur Gets SBA Loan to Buy Servpro Franchise

Need money to invest in a Servpro franchise? Jpmorgan Chase Bank 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 2008 SBA franchise loan that you should know about. Jpmorgan Chase Bank was the lender and the entrepreneur was based in Corbin, Kentucky.

SBA Loan Borrower

PARSONS-ROBERTS HOLDING, LLC
CORBIN, KY 40701

SBA Loan Lender

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

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

561110 - Office Administrative Services

Loan Approval Date

2/8/2008

Loan Approval Gross Amount

$95,100

Loan Approval from the SBA

Of the total $95,100 loan amount, the SBA guaranteed $47,550.

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 no employees. This SBA loan request did not indicate that the small business planned to use the money to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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

A Company That Helps Entrepreneurs

Small Bank Loans in Houston, Texas

SBA Texas Banks