Americanwest Bank Provides SBA Loan to Buy Rooterman Franchise

Need a loan to invest in a Rooterman franchise? Americanwest Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Rooterman franchise? If so, here's a 2003 SBA franchise loan that you should know about. Americanwest Bank was the lender and the entrepreneur was based in Pasco, Washington.

SBA Loan Borrower

ROOTERMAN
PASCO, WA 99301

SBA Loan Lender

AMERICANWEST BANK
3945 W COURT ST
PASCO, WA 99301

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with getting a loan . The low-doc program requires 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

332919 - Metal Valve and Pipe Fitting Manufacturing

Loan Approval Date

5/20/2003

Loan Approval Gross Amount

$22,500

Loan Approval from the SBA

Of the total $22,500 loan amount, the SBA guaranteed $19,125.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Rooterman franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

If you need money to start a business or need money to grow a business, an SBA loan can be a great funding source

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Americanwest Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Rooter-Man

Advice on Getting a Small Business Loan

SBA 7A Banks in Pasco, Washington

Washington SBA Bank Lenders