Novato, CA Entrepreneur Gets SBA Loan to Buy Molly Maid Franchise

Need money to invest in a Molly Maid franchise? Newtek Small Business Finance Inc. has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Molly Maid franchise may simply require a phone call to a local SBA banker. In 2004, Newtek Small Business Finance Inc. issued an SBA franchise loan to an entrepreneur in Novato, California. Because Molly Maid was registered with the SBA's registry of franchises, this California small business loan was issued on an expedited basis.

SBA Loan Borrower

MOLLY MAID OF SOUTHERN SONOMA
NOVATO, CA 94945

SBA Loan Lender

NEWTEK SMALL BUSINESS FINANCE INC.
1440 BROADWAY, 17TH FL.
NEW YORK, NY 10018

This commercial loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

561720 - Janitorial Services

Loan Approval Date

1/29/2004

Loan Approval Gross Amount

$125,000

Loan Approval from the SBA

Of the total $125,000 loan amount, the SBA guaranteed $62,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Molly Maid franchise. At the time of the loan, the company had 4 employees. This SBA loan request indicated that the loan would help create 4 new jobs.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

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:

Molly Maid

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Where to Get an SBA Loan in New York, New York

Getting a Business Loan in New York