Minot, ND Entrepreneur Gets SBA Loan to Buy Roto Rooter Franchise

Borrowing money to invest in a Roto Rooter franchise? Bremer Bank has a history of making these loans and they are guaranteed by the SBA.

Roto Rooter franchise loans are available to Minot, North Dakota entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Bremer Bank, based in Minot, North Dakota, issued an SBA franchise loan for a Roto Rooter franchise in 2003. We've got all the details on this North Dakota small business loan.

SBA Loan Borrower

ROTO-ROOTER
MINOT, ND 58701

SBA Loan Lender

BREMER BANK
20 FIRST ST SOUTHWEST
MINOT, ND 58701

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

562991 - Septic Tank and Related Services

Loan Approval Date

1/16/2003

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Roto Rooter franchise. At the time of the loan, the company had only one employee. The SBA loan documents did not indicate that the company promised to use the loan proceeds to hire new 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.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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

Dealing With Venture Capitalists

SBA 7A Banks in Minot, North Dakota

Getting a Business Loan in North Dakota