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April 25, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Humble, Business Loans > Sterling Bank Humble Business Loans > Sport Clips Loan | ||||
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Where to Get a Bank Loan to Purchase a Franchise
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Grapevine, TX Entrepreneur Gets SBA Loan to Buy Sports Clips FranchiseNeed 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 Grapevine, Texas. SBA Loan Borrower SPORT CLIPS SBA Loan Lender STERLING BANK The lender provided this SBA 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 6/10/2005 Loan Approval Gross Amount $135,000 Loan Approval from the SBA Of the total $135,000 loan amount, the SBA guaranteed $67,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Sports Clips franchise. At the time of the loan, the company had 7 employees. The loan application indicated that the loan would help retain 7 existing jobs. Next Steps for Getting an SBA Loan SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $135,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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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