Borrow Money to Buy a Taylor Rental Center Franchise

Borrowing money to purchase a Taylor Rental Center franchise? Orlando National Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Taylor Rental Center franchise? If so, here's a 2007 SBA franchise loan that you should know about. Orlando National Bank was the lender and the entrepreneur was based in Crystal Lake, Illinois.

SBA Loan Borrower

TAYLOR RENTAL CENTER
CRYSTAL LAKE, IL 60014

SBA Loan Lender

ORLANDO NATIONAL BANK
502 N HWY 17-92
LONGWOOD, FL 32750

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

532210 - Consumer Electronics and Appliances Rental

Loan Approval Date

6/14/2007

Loan Approval Gross Amount

$450,000

Loan Approval from the SBA

Of the total $450,000 loan amount, the SBA guaranteed $337,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Taylor Rental Center franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 5 existing jobs.

Getting an SBA Loan For Your Business

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Orlando National Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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