Loan to Buy Servpro Franchise Issued By Wells Fargo Bank

Borrowing money to purchase a Servpro franchise? Wells Fargo Bank has a history of making these loans and they are guaranteed by the SBA.

Servpro franchise loans are available to Gladstone (linden), Missouri entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Wells Fargo Bank, based in Minneapolis, Minnesota, issued an SBA franchise loan for a Servpro franchise in 2003. We've got all the details on this Missouri small business loan.

SBA Loan Borrower

SERVPRO OF CLAY COUNTY
GLADSTONE (LINDEN), MO 64118

SBA Loan Lender

WELLS FARGO BANK
2329 CENTRAL AVE NE
MINNEAPOLIS, MN 55418

This lender provides SBA commercial loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

561740 - Carpet and Upholstery Cleaning Services

Loan Approval Date

3/28/2003

Loan Approval Gross Amount

$494,000

Loan Approval from the SBA

Of the total $494,000 loan amount, the SBA guaranteed $370,500.

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 8 employees. The loan application indicated that the loan would help retain 8 existing jobs.

Getting an SBA Loan For Your Business

Remember, 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.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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

Getting a Small Business Loan

SBA Participating Banks in Minneapolis, Minnesota

Getting a Business Loan in Minnesota