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November 15, 2024 |
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| Home > Small Business Lenders by State > Mississippi Business Loan Sources > Ocean Springs, Business Loans > Merchants & Marine Bank Ocean Springs Business Loans > Gold Coast Service Master Loan | ||||
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Mississippi Small Business Funding for Franchises
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Borrow Money to Buy a Servicemaster FranchiseNeed a loan to invest in a Servicemaster franchise? Merchants & Marine Bank has a history of making these loans and they are guaranteed by the SBA. If you live near Ocean Springs, Mississippi and are interested in buying a Servicemaster franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2004 by Merchants & Marine Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase. SBA Loan Borrower GOLD COAST SERVICE MASTER SBA Loan Lender MERCHANTS & MARINE BANK This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with appliying for an SBA loan . 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. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 561720 - Janitorial Services Loan Approval Date 5/19/2004 Loan Approval Gross Amount $20,000 Loan Approval from the SBA Of the total $20,000 loan amount, the SBA guaranteed $17,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Servicemaster franchise. At the time of the loan, the company had 4 employees. The SBA loan documents did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Merchants & Marine Bank and they will explain how you can get an SBA loan for your company. 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: Obtaining Funding From a Venture Capitalist Best Banks for Small Business in Ocean Springs, Mississippi
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