Lafayette, CO Entrepreneur Gets SBA Loan to Buy Mr. Handyman Franchise

Borrowing money to invest in a Mr. Handyman franchise? Newtek Small Business Finance Inc. has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Mr. Handyman franchise requires some effort but others before you have been successful. In 2004, Newtek Small Business Finance Inc. issued an SBA franchise loan to an entrepreneur in Lafayette, Colorado. Because Mr. Handyman was registered with the SBA's registry of franchises, this Colorado small business loan was issued on an expedited basis.

SBA Loan Borrower

MR HANDYMAN OF NORTH METRO DEN
LAFAYETTE, CO 80026

SBA Loan Lender

NEWTEK SMALL BUSINESS FINANCE INC.
1440 BROADWAY, 17TH FL.
NEW YORK, NY 10018

This lender issued this particular commercial 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.

NAICS Code

811490 - Personal and Household Goods Repair and Maintenance

Loan Approval Date

4/30/2004

Loan Approval Gross Amount

$149,000

Loan Approval from the SBA

Of the total $149,000 loan amount, the SBA guaranteed $126,650.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Mr. Handyman franchise. At the time of the loan, the company had 5 employees. The loan application did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are wondering how to find money to start a business or need money for an existing business, an SBA loan can be a great way to raise money

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Newtek Small Business Finance Inc. had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Newtek Small Business Finance Inc. made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Mr. Handyman

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