1st United Bank Provides SBA Loan to Buy Servpro Franchise

Borrowing money to buy a Servpro franchise? 1st United 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 2007 SBA franchise loan that you should know about. 1st United Bank was the lender and the entrepreneur was based in Fairbault, Minnesota.

SBA Loan Borrower

MOSCO, INC.
FAIRBAULT, MN 55021

SBA Loan Lender

1ST UNITED BANK
430 NW 4TH ST
FARIBAULT, MN 55021

This debt financing was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

561720 - Janitorial Services

Loan Approval Date

4/30/2007

Loan Approval Gross Amount

$138,000

Loan Approval from the SBA

Of the total $138,000 loan amount, the SBA guaranteed $117,300.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Servpro franchise. At the time of the loan, the company had 3 employees. The SBA loan documents indicated that the loan would help retain 3 existing jobs.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

We've showcased information on this loan to let you know that businesses like yours 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.

Related Links:

ServPro

Business Credit Evaluation

Best Banks for Small Business in Faribault, Minnesota

Minnesota SBA 7A Lenders