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March 29, 2024  
 
 
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Loan to Buy Sports Clips Franchise Issued By Sterling Bank

Borrowing money to purchase a Sports Clips franchise? Sterling Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Houston, Texas needed money to invest in a Sports Clips franchise back in 2004. Sterling Bank issued an SBA franchise loan. Here are the details on this Texas small business loan.

SBA Loan Borrower

SPORT CLIPS
HOUSTON, TX 77066

SBA Loan Lender

STERLING BANK
8450 FM 1960 BY-PASS RD WEST
HUMBLE, TX 77338

This lender issued this particular small business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812111 - Barber Shops

Loan Approval Date

8/24/2004

Loan Approval Gross Amount

$83,000

Loan Approval from the SBA

Of the total $83,000 loan amount, the SBA guaranteed $70,550.

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 6 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

If you are wondering how to find money to start a business or need money to grow a business, an SBA loan can be a great way to raise money

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.

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