Texas Entrepreneur Secures Financing to Buy Armstrong Mccall Franchise

Borrowing money to invest in an Armstrong Mccall franchise? First United Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy an Armstrong Mccall franchise? If so, here's a 2001 SBA franchise loan that you should know about. First United Bank was the lender and the entrepreneur was based in Amarillo, Texas.

SBA Loan Borrower

ARMSTRONG MCCALL
AMARILLO, TX 79109

SBA Loan Lender

FIRST UNITED BANK
201 N BROADWAY
DIMMITT, TX 79027

This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

446120 - Cosmetics, Beauty Supplies, and Perfume Stores

Loan Approval Date

3/22/2001

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy an Armstrong Mccall franchise. At the time of the loan, the company had 7 employees. The SBA loan documents did not indicate that the company planned to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide smart, affordable business financing for small businesses looking to expand.

This SBA loan was for $150,000. How would you spend $150,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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