Borrow Money to Buy a Jani-King janitor's Service Franchise

Need a loan to invest in a Jani-King janitor's Service franchise? Western Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Jani-King janitor's Service franchise is doable. In 2003, Western Bank issued an SBA franchise loan to an entrepreneur in Elk River, Minnesota. Because Jani-King janitor's Service was registered with the SBA's registry of franchises, this Minnesota small business loan was issued on an expedited basis.

SBA Loan Borrower

JANI KING
ELK RIVER, MN 55330

SBA Loan Lender

WESTERN BANK
4700 W 77TH ST, STE 160
EDINA, MN 55435

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.

SIC Code

2842 - Specialty Cleaning, Polishes and Sanitation Goods

NAICS Code

325612 - Polish and Sanitation Good Manufacturing

Loan Approval Date

3/3/2003

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Jani-King janitor's Service franchise. At the time of the loan, the company had 28 employees. The SBA loan documents did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

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

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

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:

Jani-King International, Inc.

504 Loans

SBA 7A Lenders in Edina, Minnesota

SBA Participating Banks in Minnesota