Iowa Entrepreneur Secures Financing to Buy Certa Propainters Franchise

Need a loan to buy a Certa Propainters franchise? Farmers State Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Certa Propainters franchise? If so, here's a 2003 SBA franchise loan that you should know about. Farmers State Bank was the lender and the entrepreneur was based in Marion, Iowa.

SBA Loan Borrower

CERTA PROPAINTERS
MARION, IA 52302

SBA Loan Lender

FARMERS STATE BANK
1240 8TH AVE
MARION, IA 52302

This lender issued this particular SBA business 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

235210 - Painting and Wall Covering

Loan Approval Date

3/27/2003

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $63,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Certa Propainters franchise. At the time of the loan, the company had 30 employees. The loan application did not indicate that the company promised to use the money to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

Many small businesses receive loans backed by the U.S. Small Business Administration.

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:

CertaPro Painters

Attracting Investors

Where to Get an SBA Loan in Marion, Iowa

Getting an SBA Loan in Iowa