Loan to Buy The UPS Store Franchise Issued By Community So. Bank D.B.A Commun
Need a loan to purchase a UPS Store franchise? Community So. Bank D.B.A Commun has a history of making these loans and they are guaranteed by the SBA.
Getting money to buy a The UPS Store franchise shouldn't be too tough. In 2004, Community So. Bank D.B.A Commun issued an SBA franchise loan to an entrepreneur in Monroe, Michigan. Because The UPS Store was registered with the SBA's registry of franchises, this Michigan small business loan was issued on an expedited basis.
SBA Loan Borrower
UPS STORE
MONROE, MI 48162
SBA Loan Lender
COMMUNITY SO. BANK D.B.A COMMUN
625 S GAY ST, STE 450
KNOXVILLE, TN 37902
This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
561910 - Packaging and Labeling Services
Loan Approval Date
5/6/2004
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 The UPS Store franchise. At the time of the loan, the company
had 5 employees. The loan application did not indicate that the company promised to use the funding to hire new employees or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
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.
While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.
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:
The UPS Store
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Getting an SBA Loan in Tennessee