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May 2, 2024 |
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| Home > Small Business Lenders by State > Arizona Business Loan Sources > East Greenwich, Business Loans > Independence Bank East Greenwich Business Loans > Fantastic Sam's Loan | ||||
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Arizona Small Business Funding for Franchises
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Mesa, AZ Entrepreneur Gets SBA Loan to Buy Fantastic Sam's FranchiseNeed money to buy a Fantastic Sam's franchise? Independence Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Mesa, Arizona needed money to invest in a Fantastic Sam's franchise back in 2003. Independence Bank issued an SBA franchise loan. Here are the details on this Arizona small business loan. SBA Loan Borrower FANTASTIC SAM'S SBA Loan Lender INDEPENDENCE BANK This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812112 - Beauty Salons Loan Approval Date 7/22/2003 Loan Approval Gross Amount $70,000 Loan Approval from the SBA Of the total $70,000 loan amount, the SBA guaranteed $59,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Fantastic Sam's franchise. At the time of the loan, the company had 17 employees. The loan application did not indicate that the business promised to use the money to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Independence Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: SBA Banks in East Greenwich, Rhode Island
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