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April 27, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Creve Coeur, Business Loans > First Bank Creve Coeur Business Loans > Sport Clips Loan | ||||
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First Bank SBA 7A Franchise Loans
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Borrow Money to Buy a Sports Clips FranchiseBorrowing money to invest in a Sports Clips franchise? First 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 2007, First Bank issued an SBA franchise loan to an entrepreneur in Ashburn, Virginia. Because Sports Clips was registered with the SBA's registry of franchises, this Virginia small business loan was issued on an expedited basis. SBA Loan Borrower SPORT CLIPS SBA Loan Lender FIRST BANK The lender provided this SBA small business 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 9/25/2007 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $37,500. 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 SBA loan documents indicated that the loan would help retain 7 existing jobs. Start the Process for Getting an SBA Loan Today! For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. This SBA loan was for $75,000. How would you spend $75,000 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: Best Banks for Small Business in Creve Coeur, Missouri
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