Loan to Buy Servicemaster Franchise Issued By Comerica Bank

Borrowing money to purchase a Servicemaster franchise? Comerica Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Servicemaster franchise? If so, here's a 2005 SBA franchise loan that you should know about. Comerica Bank was the lender and the entrepreneur was based in Rancho Cordova (mills), California.

SBA Loan Borrower

SERVICEMASTER CAPITOL CLEANING
RANCHO CORDOVA (MILLS), CA 95742

SBA Loan Lender

COMERICA BANK
1717 MAIN
DALLAS, TX 75201

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

561740 - Carpet and Upholstery Cleaning Services

Loan Approval Date

8/19/2005

Loan Approval Gross Amount

$372,300

Loan Approval from the SBA

Of the total $372,300 loan amount, the SBA guaranteed $279,225.

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 7 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 8 existing jobs.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

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.

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