Borrow Money to Buy a Certa Propainters Franchise

Borrowing money to purchase a Certa Propainters franchise? The First National Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Certa Propainters franchise? If so, here's a 2003 SBA franchise loan that you should know about. The First National Bank was the lender and the entrepreneur was based in Highland, Illinois.

SBA Loan Borrower

CERTA PRO PAINTERS-MADISON ST
HIGHLAND, IL 62249

SBA Loan Lender

THE FIRST NATIONAL BANK
1310 E CITY, RTE 40
GREENVILLE, IL 62246

This lender issued this particular bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1799 - Special Trade Contractors

NAICS Code

235210 - Painting and Wall Covering

Loan Approval Date

2/3/2003

Loan Approval Gross Amount

$113,900

Loan Approval from the SBA

Of the total $113,900 loan amount, the SBA guaranteed $96,815.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Certa Propainters franchise. At the time of the loan, the company had only one employee. 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.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from The First National Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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