Thief River Falls, MN Entrepreneur Gets SBA Loan to Buy Servicemaster Franchise

Need a loan to invest in a Servicemaster franchise? Wells Fargo Bank has a history of making these loans and they are guaranteed by the SBA.

Servicemaster franchise loans are available to Thief River Falls, Minnesota entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Wells Fargo Bank, based in Minneapolis, Minnesota, issued an SBA franchise loan for a Servicemaster franchise in 2003. We've got all the details on this Minnesota small business loan.

SBA Loan Borrower

SERVICEMASTER OF THIEF RIVER F
THIEF RIVER FALLS, MN 56701

SBA Loan Lender

WELLS FARGO BANK
2329 CENTRAL AVE NE
MINNEAPOLIS, MN 55418

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

561740 - Carpet and Upholstery Cleaning Services

Loan Approval Date

4/1/2003

Loan Approval Gross Amount

$52,700

Loan Approval from the SBA

Of the total $52,700 loan amount, the SBA guaranteed $26,350.

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 14 employees. The SBA loan application for the borrower indicated that the loan would help retain 14 existing jobs.

Getting an SBA Loan For Your Business

SBA loans provide smart, affordable business financing for small businesses looking to expand.

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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