Borrow Money to Buy a Mr. Payroll Corporation Franchise

Borrowing money to purchase a Mr. Payroll Corporation franchise? Alliance Bank Of Arizona has a history of making these loans and they are guaranteed by the SBA.

Mr. Payroll Corporation franchise loans are available to Flagstaff, Arizona entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Alliance Bank Of Arizona, based in Phoenix, Arizona, issued an SBA franchise loan for a Mr. Payroll Corporation franchise in 2005. We've got all the details on this Arizona small business loan.

SBA Loan Borrower

MR PAYROLL
FLAGSTAFF, AZ 86001

SBA Loan Lender

ALLIANCE BANK OF ARIZONA
2701 E CAMELBACK RD, STE 110
PHOENIX, AZ 85018

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

522390 - Activities Related to Credit Intermediation

Loan Approval Date

6/16/2005

Loan Approval Gross Amount

$620,000

Loan Approval from the SBA

Of the total $620,000 loan amount, the SBA guaranteed $465,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Mr. Payroll Corporation franchise. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help generate 3 new jobs and retain 2 existing jobs.

Next Steps for Getting an SBA Loan

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.

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