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November 21, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Champaign, Business Loans > Busey Bank Champaign Business Loans > Mr Rooter Plumbing Loan | ||||
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Tolono, Illinois Bank Loan
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Tolono, IL Entrepreneur Gets SBA Loan to Buy Mr. Rooter FranchiseNeed money to purchase a Mr. Rooter franchise? Busey Bank has a history of making these loans and they are guaranteed by the SBA. Want to borrow money to buy a Mr. Rooter franchise? If so, here's a 2007 SBA franchise loan that you should know about. Busey Bank was the lender and the entrepreneur was based in Tolono, Illinois. SBA Loan Borrower MR ROOTER PLUMBING SBA Loan Lender BUSEY BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 238220 - Plumbing, Heating, and Air-Conditioning Contractors Loan Approval Date 5/25/2007 Loan Approval Gross Amount $210,000 Loan Approval from the SBA Of the total $210,000 loan amount, the SBA guaranteed $157,500. 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 16 employees. The loan application indicated that the loan would help retain 16 existing jobs. Next Steps for Getting an SBA Loan Don't forget. To get an SBA loan, you must 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. We can help you find the best banks for small businesses in Tolono or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Small Bank Loans in Champaign, Illinois Find an SBA Lender in Illinois
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