Borrow Money to Buy a Mr. Electric Franchise

Need a loan to buy a Mr. Electric franchise? Bank Of Granite has a history of making these loans and they are guaranteed by the SBA.

If you live near Lenoir, North Carolina and are interested in buying a Mr. Electric franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2000 by Bank Of Granite. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

MR. ELECTRIC
LENOIR, NC 28645

SBA Loan Lender

BANK OF GRANITE
707 COLLEGE AVE SW
LENOIR, NC 28645

This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1731 - Electrical Work

NAICS Code

235310 - Electrical Contractors

Loan Approval Date

3/30/2000

Loan Approval Gross Amount

$49,200

Loan Approval from the SBA

Of the total $49,200 loan amount, the SBA guaranteed $39,360.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Mr. Electric franchise. At the time of the loan, the company had only one employee. This SBA loan request did not indicate that the small business planned to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Every year, the SBA guarantees over $10 billion for loans just like this one.

This SBA loan was for $49,200. How would you spend $49,200 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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