Loan to Buy Jackson Hewitt Tax Service Franchise Issued By Fifth Third Bank

Need a loan to invest in a Jackson Hewitt Tax Service franchise? Fifth Third Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Jackson Hewitt Tax Service franchise may simply require a phone call to a local SBA banker. In 2000, Fifth Third Bank issued an SBA franchise loan to an entrepreneur in East Lansing, Michigan. Because Jackson Hewitt Tax Service was registered with the SBA's registry of franchises, this Michigan small business loan was issued on an expedited basis.

SBA Loan Borrower

JACKSON-HEWITT
EAST LANSING, MI 48823

SBA Loan Lender

FIFTH THIRD BANK
111 LYON ST NW
GRAND RAPIDS, MI 49503

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.

SIC Code

7291 - Tax Return Preparation Services

NAICS Code

541213 - Tax Preparation Services

Loan Approval Date

8/15/2000

Loan Approval Gross Amount

$115,500

Loan Approval from the SBA

Of the total $115,500 loan amount, the SBA guaranteed $57,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Jackson Hewitt Tax Service franchise. At the time of the loan, the company had 30 employees. The SBA loan application for the borrower indicated that the loan would help generate 10 new jobs and retain 10 existing jobs.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $115,500 loan. Remember, you control your own destiny.

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:

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