Pennsylvania Entrepreneur Secures Financing to Buy Servpro Franchise

Borrowing money to invest in a Servpro franchise? Td Banknorth has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Servpro franchise requires some effort but others before you have been successful. In 2001, Td Banknorth issued an SBA franchise loan to an entrepreneur in Havertown (rr Name Llanerch), Pennsylvania. Because Servpro was registered with the SBA's registry of franchises, this Pennsylvania small business loan was issued on an expedited basis.

SBA Loan Borrower

SERVPRO OF WOODBURY/DEPTFORD
HAVERTOWN (RR NAME LLANERCH), PA 19083

SBA Loan Lender

TD BANKNORTH
1000 MACARTHUR BLVD
MAHWAH, NJ 07430

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

562910 - Remediation Services

Loan Approval Date

11/21/2001

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $63,750.

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 only one employee. The SBA loan documents indicated that the loan would help retain 1 existing job.

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

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

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Td Banknorth and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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