Loan to Buy Liberty Tax Service Franchise Issued By First Midwest Bank

Borrowing money to purchase a Liberty Tax Service franchise? First Midwest Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Valparaiso, Indiana needed money to invest in a Liberty Tax Service franchise back in 2002. First Midwest Bank issued an SBA franchise loan. Here are the details on this Indiana small business loan.

SBA Loan Borrower

LIBERTY TAX SERVICE
VALPARAISO, IN 46383

SBA Loan Lender

FIRST MIDWEST BANK
10322 INDIANAPOLIS BLVD
HIGHLAND, IN 46322

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7291 - Tax Return Preparation Services

NAICS Code

541213 - Tax Preparation Services

Loan Approval Date

6/13/2002

Loan Approval Gross Amount

$34,400

Loan Approval from the SBA

Of the total $34,400 loan amount, the SBA guaranteed $29,240.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Liberty Tax Service franchise. At the time of the loan, the company had 12 employees. The SBA loan documents did not indicate that the company planned to use the funding to add employees or retain any existing employees.

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

If you need money to start a business or already have a business and need money to expand, an SBA loan can be a great source of funding.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Liberty Tax Service

Choosing VC Firms

SBA Approved Banks in Highland, Indiana

Where to Get an SBA Loan Indiana