Peoples Bank & Trust Co. Provides SBA Loan to Buy Servicemaster Franchise

Borrowing money to buy a Servicemaster franchise? Peoples Bank & Trust Co. has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Mcpherson, Kansas needed money to invest in a Servicemaster franchise back in 2003. Peoples Bank & Trust Co. issued an SBA franchise loan. Here are the details on this Kansas small business loan.

SBA Loan Borrower

SERVICE MASTER OF MCPHERSON
MCPHERSON, KS 67460

SBA Loan Lender

PEOPLES BANK & TRUST CO.
101 S MAIN ST
MCPHERSON, KS 67460

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

561720 - Janitorial Services

Loan Approval Date

1/3/2003

Loan Approval Gross Amount

$106,500

Loan Approval from the SBA

Of the total $106,500 loan amount, the SBA guaranteed $90,525.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Servicemaster franchise. At the time of the loan, the company had 8 employees. The loan application did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Peoples Bank & Trust Co. so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

ServiceMaster Clean

How to Raise Money

SBA Participating Banks in Mcpherson, Kansas

Getting a Business Loan in Kansas