Borrow Money to Buy a Mr. Rooter Franchise

Borrowing money to purchase a Mr. Rooter franchise? Salem Five Cents Savings Bank has a history of making these loans and they are guaranteed by the SBA.

Mr. Rooter franchise loans are available to Salem, Massachusetts entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Salem Five Cents Savings Bank, based in Salem, Massachusetts, issued an SBA franchise loan for a Mr. Rooter franchise in 2006. We've got all the details on this Massachusetts small business loan.

SBA Loan Borrower

MR ROOTER OF ESSEX COUNTY
SALEM, MA 01970

SBA Loan Lender

SALEM FIVE CENTS SAVINGS BANK
210 ESSEX ST
SALEM, MA 01970

This business 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

562991 - Septic Tank and Related Services

Loan Approval Date

1/24/2006

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Mr. Rooter franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 2 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Mr. Rooter Plumbing

Borrowing Money from Friends and Family

Find an SBA Lender in Salem, Massachusetts

Getting an SBA Loan in Massachusetts