Borrow Money to Buy a Housemaster Of America Franchise
Borrowing money to purchase a Housemaster Of America franchise? Branch Bank & Trust has a history of making these loans and they are guaranteed by the SBA.
Housemaster Of America franchise loans are available to Kings Mountain, North Carolina entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Branch Bank & Trust, based in Winston Salem, North Carolina, issued an SBA franchise loan for a Housemaster Of America franchise in 2007. We've got all the details on this North Carolina small business loan.
SBA Loan Borrower
HAROLD L UPTON JR
KINGS MOUNTAIN, NC 28086
SBA Loan Lender
BRANCH BANK & TRUST
200 W 2ND ST
WINSTON SALEM, NC 27101
This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.
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
541350 - Building Inspection Services
Loan Approval Date
10/19/2007
Loan Approval Gross Amount
$350,000
Loan Approval from the SBA
Of the total $350,000 loan amount, the SBA guaranteed $175,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was used to buy a Housemaster Of America franchise. At the time of the loan, the company
had 2 employees. The SBA loan documents indicated that the loan would help generate 4 new jobs and retain 2 existing jobs.
Next Steps for Getting an SBA Loan
SBA loans provide money to small business owners for working capital for other expenses.
There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.
Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!
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:
Determining Proper Capital Structure for a Business
SBA 7A Banks in Winston Salem, North Carolina
Getting an SBA Loan in North Carolina