Loan to Buy Roto Rooter Franchise Issued By Pioneer Bank

Borrowing money to buy a Roto Rooter franchise? Pioneer Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Roto Rooter franchise is doable. In 2004, Pioneer Bank issued an SBA franchise loan to an entrepreneur in Sioux City, Iowa. Because Roto Rooter was registered with the SBA's registry of franchises, this Iowa small business loan was issued on an expedited basis.

SBA Loan Borrower

ROTO-ROOTER
SIOUX CITY, IA 51105

SBA Loan Lender

PIONEER BANK
701 PIERCE ST
SIOUX CITY, IA 51102

This small business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

562998 - Waste Management Services

Loan Approval Date

2/23/2004

Loan Approval Gross Amount

$192,800

Loan Approval from the SBA

Of the total $192,800 loan amount, the SBA guaranteed $144,600.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Roto Rooter franchise. At the time of the loan, the company had 11 employees. This SBA loan request did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

Roto-Rooter Corporation

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Small Bank Loans in Sioux City, Iowa

SBA Participating Banks in Iowa