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November 22, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > New York, Business Loans > Newtek Small Business Finance Inc. New York Business Loans > Servpro Of Kendall/pinecreast Loan | ||||
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Where to Get an SBA 7A Loan to Purchase a Franchise
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Miami, FL Entrepreneur Gets SBA Loan to Buy Servpro FranchiseNeed a loan to invest in a Servpro franchise? Newtek Small Business Finance Inc. has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Miami, Florida needed money to invest in a Servpro franchise back in 2007. Newtek Small Business Finance Inc. issued an SBA franchise loan. Here are the details on this Florida small business loan. SBA Loan Borrower SERVPRO OF KENDALL/PINECREAST SBA Loan Lender NEWTEK SMALL BUSINESS FINANCE INC. 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 561790 - Services to Buildings and Dwellings Loan Approval Date 5/3/2007 Loan Approval Gross Amount $247,000 Loan Approval from the SBA Of the total $247,000 loan amount, the SBA guaranteed $185,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Servpro franchise. At the time of the loan, the company had 3 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 3 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Every year, the SBA guarantees over $10 billion for loans just like this one. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Newtek Small Business Finance Inc. had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Newtek Small Business Finance Inc. made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Advice on Getting a Small Business Loan Small Business Banks in New York, New York Find an SBA Lender in New York
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