Loan to Buy Servpro Franchise Issued By Camden National Bank

Borrowing money to invest in a Servpro franchise? Camden National Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Servpro franchise? If so, here's a 2005 SBA franchise loan that you should know about. Camden National Bank was the lender and the entrepreneur was based in Northport, Maine.

SBA Loan Borrower

DAMAGE RESTORATION,INC.
NORTHPORT, ME 04849

SBA Loan Lender

CAMDEN NATIONAL BANK
2 ELM ST
CAMDEN, ME 04843

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

561740 - Carpet and Upholstery Cleaning Services

Loan Approval Date

5/4/2005

Loan Approval Gross Amount

$80,000

Loan Approval from the SBA

Of the total $80,000 loan amount, the SBA guaranteed $40,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Servpro franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the funding would help generate 2 new jobs.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

We can help you find the best banks for small businesses in Northport or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

ServPro

Business Incubators

SBA Participating Banks in Camden, Maine

Maine SBA Bank Lenders