Loan to Buy Servpro Franchise Issued By Stearns Bank

Borrowing money to purchase a Servpro franchise? Stearns Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Servpro franchise may simply require a phone call to a local SBA banker. In 2007, Stearns Bank issued an SBA franchise loan to an entrepreneur in Laguna Hills, California. Because Servpro was registered with the SBA's registry of franchises, this California small business loan was issued on an expedited basis.

SBA Loan Borrower

SERVPRO OF CERRITOS
LAGUNA HILLS, CA 92653

SBA Loan Lender

STEARNS BANK
4191 2ND ST SOUTH
SAINT CLOUD, MN 56301

This lender provides SBA business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

561720 - Janitorial Services

Loan Approval Date

9/25/2007

Loan Approval Gross Amount

$104,200

Loan Approval from the SBA

Of the total $104,200 loan amount, the SBA guaranteed $88,570.

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 3 employees. This SBA loan request indicated that the funding would help generate 3 new jobs.

Getting an SBA Loan For Your Business

If you are wondering how to raise money for a business in Laguna Hills CA, you ought to talk with a local Laguna Hills SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Laguna Hills businesses.

While you may be able to borrow money from friends and family, 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.

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