Loan to Buy Servicemaster Franchise Issued By Commerce Bank

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

If you live near Smith Town, New York and are interested in buying a Servicemaster franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2004 by Commerce Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

SERVICE MASTER CLEAN
SMITH TOWN, NY 11787

SBA Loan Lender

COMMERCE BANK
2005 MARKET ST
PHILADELPHIA, PA 19103

This lender provides SBA business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

561740 - Carpet and Upholstery Cleaning Services

Loan Approval Date

5/19/2004

Loan Approval Gross Amount

$94,800

Loan Approval from the SBA

Of the total $94,800 loan amount, the SBA guaranteed $80,580.

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

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Commerce Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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:

ServiceMaster Clean

A Company That Helps Entrepreneurs

Who Lends Money to Small Businesses in Philadelphia, Pennsylvania

SBA Pennsylvania Banks