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May 14, 2024 |
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| Home > Small Business Lenders by State > Tennessee Business Loan Sources > Cincinnati, Business Loans > Fifth Third Bank Cincinnati Business Loans > Sports Clips Loan | ||||
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Where to Get a Bank Loan to Purchase a Franchise
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Borrow Money to Buy a Sports Clips FranchiseBorrowing money to purchase a Sports Clips franchise? Fifth Third Bank has a history of making these loans and they are guaranteed by the SBA. If you live near Franklin, Tennessee and are interested in buying a Sports Clips franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2003 by Fifth Third Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase. SBA Loan Borrower SPORTS CLIPS SBA Loan Lender FIFTH THIRD BANK This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. 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 10/28/2003 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. 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 15 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. We've showcased information on this loan to let you know that businesses like yours 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:
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