Borrow Money to Buy a Snip-Its Franchise

Need money to invest in a Snip-Its franchise? Western Commerce Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Albuquerque, New Mexico needed money to invest in a Snip-Its franchise back in 2005. Western Commerce Bank issued an SBA franchise loan. Here are the details on this New Mexico small business loan.

SBA Loan Borrower

SNIP-ITS
ALBUQUERQUE, NM 87120

SBA Loan Lender

WESTERN COMMERCE BANK
127 S CANYON ST
CARLSBAD, NM 88220

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

812112 - Beauty Salons

Loan Approval Date

2/16/2005

Loan Approval Gross Amount

$85,800

Loan Approval from the SBA

Of the total $85,800 loan amount, the SBA guaranteed $72,930.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Snip-Its franchise. At the time of the loan, the company had 4 employees. The loan application did not indicate that the SBA funding recipient 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?

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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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