Loan to Buy Sports Clips Franchise Issued By First-Citizens Bank & Trust

Need money to buy a Sports Clips franchise? First-Citizens Bank & Trust has a history of making these loans and they are guaranteed by the SBA.

If you live near Charlotte, North Carolina and are interested in buying a Sports Clips franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2001 by First-Citizens Bank & Trust. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

SPORT CLIPS
CHARLOTTE, NC 28202

SBA Loan Lender

FIRST-CITIZENS BANK & TRUST
100 E TRYON RD
RALEIGH, NC 27603

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7241 - Barber Shops

NAICS Code

812111 - Barber Shops

Loan Approval Date

10/3/2001

Loan Approval Gross Amount

$115,000

Loan Approval from the SBA

Of the total $115,000 loan amount, the SBA guaranteed $97,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Sports Clips franchise. At the time of the loan, the company had 10 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you need money to start a business or need money for an existing business, an SBA loan can be a great source of funding.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Sport Clips

Getting a Small Business Loan

Where to Get an SBA Loan in Raleigh, North Carolina

SBA Lenders in North Carolina