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April 28, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Humble, Business Loans > Sterling Bank Humble Business Loans > Sport Clips 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 Sports Clips FranchiseNeed a loan to buy a Sports Clips franchise? Sterling Bank has a history of making these loans and they are guaranteed by the SBA. Sports Clips franchise loans are available to Sugar Land, Texas entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Sterling Bank, based in Humble, Texas, issued an SBA franchise loan for a Sports Clips franchise in 2005. We've got all the details on this Texas small business loan. SBA Loan Borrower SPORT CLIPS SBA Loan Lender STERLING BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812111 - Barber Shops Loan Approval Date 9/12/2005 Loan Approval Gross Amount $112,000 Loan Approval from the SBA Of the total $112,000 loan amount, the SBA guaranteed $95,200. 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 9 employees. The loan application did not indicate that the business planned to use the money to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. We can help you find the best banks for small businesses in Sugar Land or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Who Lends Money to Small Businesses in Humble, Texas
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