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April 28, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Houston, Business Loans > Trustmark National Bank Houston Business Loans > Sport Clips Loan | ||||
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San Antonio, Texas Bank for SBA Loans
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Trustmark National Bank Provides SBA Loan to Buy Sports Clips FranchiseNeed money to buy a Sports Clips franchise? Trustmark National 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 2002 SBA franchise loan that you should know about. Trustmark National Bank was the lender and the entrepreneur was based in San Antonio, Texas. SBA Loan Borrower SPORT CLIPS SBA Loan Lender TRUSTMARK NATIONAL BANK This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with getting a loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812111 - Barber Shops Loan Approval Date 9/10/2002 Loan Approval Gross Amount $120,000 Loan Approval from the SBA Of the total $120,000 loan amount, the SBA guaranteed $102,000. 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 14 employees. The loan application did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Trustmark National Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Browse All Business Loan Sources for Texas
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