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December 23, 2024 |
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| Home > Small Business Lenders by State > Arkansas Business Loan Sources > Jonesboro, Business Loans > Simmons 1st Bank - Jonesboro Jonesboro Business Loans > Servpro Of Jonesboro Loan | ||||
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Where to Get a Business Loan to Purchase a Franchise
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Simmons 1st Bank - Jonesboro Provides SBA Loan to Buy Servpro FranchiseBorrowing money to purchase a Servpro franchise? Simmons 1st Bank - Jonesboro 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 2007, Simmons 1st Bank - Jonesboro issued an SBA franchise loan to an entrepreneur in Jonesboro, Arkansas. Because Servpro was registered with the SBA's registry of franchises, this Arkansas small business loan was issued on an expedited basis. SBA Loan Borrower SERVPRO OF JONESBORO SBA Loan Lender SIMMONS 1ST BANK - JONESBORO The lender provided this loan for a small business through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 561720 - Janitorial Services Loan Approval Date 4/2/2007 Loan Approval Gross Amount $15,000 Loan Approval from the SBA Of the total $15,000 loan amount, the SBA guaranteed $7,500. 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 5 employees. The SBA loan application for the borrower indicated that the loan would help retain 5 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Every year, the SBA guarantees over $10 billion for loans just like this one. While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: Banking Deregulation's Effects on Entrepreneurship Small Business Banks in Jonesboro, Arkansas Getting a Business Loan in Arkansas
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