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| Entrepreneur Resources | Newtek Small Business Finance Inc. New York Business Loans | ||||
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Where to Get an SBA 7A Loan to Purchase a Franchise
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Miami, FL Entrepreneur Gets SBA Loan to Buy Servpro FranchiseNeed a loan to invest in a Servpro franchise? Newtek Small Business Finance Inc. has a history of making these loans and they are guaranteed by the SBA.
An entrepreneur in Miami, Florida needed money to invest in a Servpro franchise back in 2007. Newtek Small Business Finance Inc. issued an SBA franchise loan. Here are the details on this Florida small business loan. SBA Loan Borrower SERVPRO OF KENDALL/PINECREAST SBA Loan Lender NEWTEK SMALL BUSINESS FINANCE INC. Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 561790 - Other Services to Buildings and Dwellings Loan Approval Date 5/3/2007 Loan Approval Gross Amount $247,000 Loan Approval from the SBA Of the total $247,000 loan amount, the SBA guaranteed $185,250. More Information on This SBA Loan The borrower, Servpro Of Kendall/pinecreast, 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 3 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 3 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Every year, the SBA guarantees over $10 billion for loans just like this one. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. Servpro Of Kendall/pinecreast needed a loan. Newtek Small Business Finance Inc. probably wouldn't have granted the loan based on the merits of the company, but with the SBA stepping up and agreeing to guarantee part of the loan, Newtek Small Business Finance Inc. made the loan. The end result was that Servpro Of Kendall/pinecreast was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. About This SBA Loan Information: All SBA loan data displayed above comes from the government's SBA loan database. Related Links: Advice on Getting a Small Business Loan Small Business Banks in New York, New York Find an SBA Lender in New York If you are an ambitious entrepreneur or an aspiring executive looking to get involved with a startup, please take the time to learn more about Gaebler Ventures.
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