Borrow Money to Buy a Servpro Franchise

Need a loan to invest in a Servpro franchise? Self-Help Cu has a history of making these loans and they are guaranteed by the SBA.

Servpro franchise loans are available to Hendersonville, Tennessee entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Self-Help Cu, based in Durham, North Carolina, issued an SBA franchise loan for a Servpro franchise in 2004. We've got all the details on this Tennessee small business loan.

SBA Loan Borrower

SERVPRO INDUSTRIES OF EAST ASH
HENDERSONVILLE, TN 37075

SBA Loan Lender

SELF-HELP CU
301 W MAIN ST
DURHAM, NC 27701

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.

NAICS Code

561720 - Janitorial Services

Loan Approval Date

3/9/2004

Loan Approval Gross Amount

$119,000

Loan Approval from the SBA

Of the total $119,000 loan amount, the SBA guaranteed $101,150.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Servpro franchise. At the time of the loan, the company had 10 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Self-Help Cu that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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 Line of Credit

SBA 7A Banks in Durham, North Carolina

SBA Lenders in North Carolina