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April 28, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Creve Coeur, Business Loans > First Bank Creve Coeur Business Loans > Sport Clips Loan | ||||
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How to Get SBA Loans in Seabrook, Texas
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Loan to Buy Sports Clips Franchise Issued By First BankNeed money to buy 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 Seabrook, 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 FIRST BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812111 - Barber Shops Loan Approval Date 3/7/2007 Loan Approval Gross Amount $239,000 Loan Approval from the SBA Of the total $239,000 loan amount, the SBA guaranteed $179,250. 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 23 employees. The loan application indicated that the loan would help retain 23 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide money to small business owners for working capital for other expenses. 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: Advice on Getting a Small Business Loan Best Creve Coeur, Missouri Banks for Small Business
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