Dallas, TX Entrepreneur Gets SBA Loan to Buy Sports Clips Franchise

Borrowing money to buy a Sports Clips franchise? Trustmark National Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Sports Clips franchise may simply require a phone call to a local SBA banker. In 2003, Trustmark National Bank issued an SBA franchise loan to an entrepreneur in Dallas, Texas. Because Sports Clips was registered with the SBA's registry of franchises, this Texas small business loan was issued on an expedited basis.

SBA Loan Borrower

SPORT CLIPS
DALLAS, TX 75205

SBA Loan Lender

TRUSTMARK NATIONAL BANK
3715 FM 1960 WEST
HOUSTON, TX 77068

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.

NAICS Code

451110 - Sporting Goods Stores

Loan Approval Date

5/21/2003

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 loan application did not indicate that the business promised to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

We can help you find the best banks for small businesses in Dallas 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.

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