Loan to Buy Mr. Rooter Franchise Issued By Lubbock National Bank

Need money to purchase a Mr. Rooter franchise? Lubbock National Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Mr. Rooter franchise? If so, here's a 2004 SBA franchise loan that you should know about. Lubbock National Bank was the lender and the entrepreneur was based in Lubbock, Texas.

SBA Loan Borrower

MR ROOTER OF THE SOUTHWEST
LUBBOCK, TX 79410

SBA Loan Lender

LUBBOCK NATIONAL BANK
4811 50TH ST
LUBBOCK, TX 79414

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

235110 - Plumbing, Heating, and Air Conditioning Contractors

Loan Approval Date

5/25/2004

Loan Approval Gross Amount

$140,000

Loan Approval from the SBA

Of the total $140,000 loan amount, the SBA guaranteed $105,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Mr. Rooter franchise. At the time of the loan, the company had 8 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 6 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Lubbock National Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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. Rooter Plumbing

How to Raise Money

Where to Get an SBA Loan in Lubbock, Texas

SBA Lenders in Texas