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May 3, 2024 |
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| Home > Small Business Lenders by State > Arizona Business Loan Sources > Humble, Business Loans > Sterling Bank Humble Business Loans > Sport Clips Loan | ||||
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Sterling Bank Franchise Business Loans
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Borrow Money to Buy a Sports Clips FranchiseBorrowing money to buy a Sports Clips franchise? Sterling Bank has a history of making these loans and they are guaranteed by the SBA. Want to borrow money to buy a Sports Clips franchise? If so, here's a 2005 SBA franchise loan that you should know about. Sterling Bank was the lender and the entrepreneur was based in Glendale, Arizona. SBA Loan Borrower SPORT CLIPS SBA Loan Lender STERLING BANK The lender provided this bank loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 812111 - Barber Shops Loan Approval Date 11/29/2005 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $50,000. 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 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 9 new jobs. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. This SBA loan was for $100,000. How would you spend $100,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: Obtaining Funding - How to Borrow Money SBA Participating Banks in Texas
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