Loan to Buy Servpro Franchise Issued By Empire Bank

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

Want to borrow money to buy a Servpro franchise? If so, here's a 2006 SBA franchise loan that you should know about. Empire Bank was the lender and the entrepreneur was based in Springfield, Missouri.

SBA Loan Borrower

SERVPRO OF SPRINGFIELD/GREENE
SPRINGFIELD, MO 65802

SBA Loan Lender

EMPIRE BANK
1800 S GLENSTONE
SPRINGFIELD, MO 65804

This 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

236118 - Residential Remodelers

Loan Approval Date

11/20/2006

Loan Approval Gross Amount

$125,000

Loan Approval from the SBA

Of the total $125,000 loan amount, the SBA guaranteed $106,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Servpro franchise. At the time of the loan, the company had 22 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Empire Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

ServPro

Business Credit Evaluation

Who Lends Money to Small Businesses in Springfield, Missouri

SBA Missouri Lenders