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November 15, 2024 |
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| Home > Small Business Lenders by State > Kentucky Business Loan Sources > Mayfield, Business Loans > Fnb Bank, Inc. Mayfield Business Loans > Professional Building Maintena Loan | ||||
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Tips for Financing a Franchise
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Kentucky Entrepreneur Secures Financing to Buy Servicemaster FranchiseNeed a loan to buy a Servicemaster franchise? Fnb Bank, Inc. has a history of making these loans and they are guaranteed by the SBA. Servicemaster franchise loans are available to Paducah, Kentucky entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Fnb Bank, Inc., based in Mayfield, Kentucky, issued an SBA franchise loan for a Servicemaster franchise in 2005. We've got all the details on this Kentucky small business loan. SBA Loan Borrower PROFESSIONAL BUILDING MAINTENA SBA Loan Lender FNB BANK, INC. This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 561720 - Janitorial Services Loan Approval Date 5/6/2005 Loan Approval Gross Amount $30,000 Loan Approval from the SBA Of the total $30,000 loan amount, the SBA guaranteed $25,500. 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 only one employee. This SBA loan request did not indicate that the business promised to use the loan proceeds 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. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: SBA 7A Banks for Mayfield, Kentucky Loans
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