Texas Entrepreneur Secures Financing to Buy Sports Clips Franchise

Need money to invest in a Sports Clips franchise? Trustmark National Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Sports Clips franchise? If so, here's a 2002 SBA franchise loan that you should know about. Trustmark National Bank was the lender and the entrepreneur was based in The Colony, Texas.

SBA Loan Borrower

SPORT CLIPS
THE COLONY, TX 75056

SBA Loan Lender

TRUSTMARK NATIONAL BANK
3715 FM 1960 WEST
HOUSTON, TX 77068

This lender issued this particular bank 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

812112 - Beauty Salons

Loan Approval Date

8/13/2002

Loan Approval Gross Amount

$142,000

Loan Approval from the SBA

Of the total $142,000 loan amount, the SBA guaranteed $120,700.

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 8 employees. The SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Trustmark National Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Trustmark National Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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