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April 27, 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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Banks for Abilene, Texas Business Owners
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Abilene, TX Entrepreneur Gets SBA Loan to Buy Sports Clips FranchiseBorrowing money to purchase a Sports Clips franchise? Sterling Bank has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Sports Clips franchise is doable. In 2005, Sterling Bank issued an SBA franchise loan to an entrepreneur in Abilene, 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 SBA Loan Lender STERLING BANK The lender provided this SBA 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 4/21/2005 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $75,000. 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 11 employees. The SBA loan application for the borrower indicated that the funding would help create 9 new jobs. Getting an SBA Loan For Your Business 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: Determining Proper Capital Structure for a Business SBA Participating Banks in Texas
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