Borrow Money to Buy a Roto Rooter Franchise

Need money to buy a Roto Rooter franchise? Northwoods State Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Roto Rooter franchise? If so, here's a 2004 SBA franchise loan that you should know about. Northwoods State Bank was the lender and the entrepreneur was based in Mason City, Iowa.

SBA Loan Borrower

ROTO-ROOTER
MASON CITY, IA 50401

SBA Loan Lender

NORTHWOODS STATE BANK
2650 4TH ST SW
MASON CITY, IA 50401

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

332913 - Plumbing Fixture Fitting and Trim Manufacturing

Loan Approval Date

11/3/2004

Loan Approval Gross Amount

$85,000

Loan Approval from the SBA

Of the total $85,000 loan amount, the SBA guaranteed $72,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Roto Rooter franchise. At the time of the loan, the company had 2 employees. The loan application did not indicate that the business planned to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $85,000 loan. Remember, where there is a will, there is a way!

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:

Roto-Rooter Corporation

Determining Proper Capital Structure for a Business

SBA Participating Banks in Mason City, Iowa

Iowa SBA 7A Lenders