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April 28, 2024 |
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| Home > Small Business Lenders by State > Missouri Business Loan Sources > Kansas City, Business Loans > Union Bank Kansas City Business Loans > Fantastic Sam's Loan | ||||
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Where to Get an SBA 7A Loan to Purchase a Franchise
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Borrow Money to Buy a Fantastic Sam's FranchiseNeed a loan to invest in a Fantastic Sam's franchise? Union Bank has a history of making these loans and they are guaranteed by the SBA. Want to borrow money to buy a Fantastic Sam's franchise? If so, here's a 2005 SBA franchise loan that you should know about. Union Bank was the lender and the entrepreneur was based in Lee's Summit, Missouri. SBA Loan Borrower FANTASTIC SAM'S SBA Loan Lender UNION BANK This debt financing was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7231 - Beauty Shops NAICS Code 812112 - Beauty Salons Loan Approval Date 7/19/2005 Loan Approval Gross Amount $93,358 Loan Approval from the SBA Of the total $93,358 loan amount, the SBA guaranteed $79,354. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Fantastic Sam's franchise. At the time of the loan, the company had 10 employees. The SBA loan documents did not indicate that the business promised to use the funding to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? If you need money to start a small business or need money for an existing business, an SBA loan can be a great source of funding. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Borrowing Money from Friends and Family SBA 7A Lenders in Kansas City, Missouri
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