Loan to Buy Servpro Franchise Issued By Family Security Cu

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

An entrepreneur in Mccalla, Alabama needed money to invest in a Servpro franchise back in 2007. Family Security Cu issued an SBA franchise loan. Here are the details on this Alabama small business loan.

SBA Loan Borrower

SERPRO OF CENTERVILLE MARION A
MCCALLA, AL 35111

SBA Loan Lender

FAMILY SECURITY CU
PO BOX 1030
DECATUR, AL 35602

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA bank loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

236118 - Residential Remodelers

Loan Approval Date

7/30/2007

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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. The loan application indicated that the borrowed money would help create 3 new jobs.

Start the Process for Getting an SBA Loan Today!

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

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 Family Security Cu 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:

ServPro

Small Business Credit Cards

Where to Get an SBA Loan in Decatur, Alabama

Alabama SBA 7A Lenders