First Commercial Bank Provides SBA Loan to Buy Molly Maid Franchise

Borrowing money to buy a Molly Maid franchise? First Commercial Bank has a history of making these loans and they are guaranteed by the SBA.

Molly Maid franchise loans are available to Mustang, Oklahoma entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, First Commercial Bank, based in Edmond, Oklahoma, issued an SBA franchise loan for a Molly Maid franchise in 2003. We've got all the details on this Oklahoma small business loan.

SBA Loan Borrower

MOLLY MAID OF OKLAHOMA
MUSTANG, OK 73064

SBA Loan Lender

FIRST COMMERCIAL BANK
1601 S KELLY
EDMOND, OK 73013

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. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

561720 - Janitorial Services

Loan Approval Date

9/4/2003

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $51,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Molly Maid franchise. At the time of the loan, the company had 3 employees. This SBA loan request did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $60,000 loan. Remember, fight for what you want, and it will be yours!

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:

Molly Maid

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Oklahoma SBA Bank Lenders