Colorado Entrepreneur Secures Financing to Buy Sports Clips Franchise

Need money to purchase a Sports Clips franchise? Bank Of The West has a history of making these loans and they are guaranteed by the SBA.

If you live near Broomfield, Colorado and are interested in buying a Sports Clips franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2000 by Bank Of The West. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

SPORT CLIPS
BROOMFIELD, CO 80021

SBA Loan Lender

BANK OF THE WEST
180 MONTGOMERY ST
SAN FRANCISCO, CA 94104

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

12/21/2000

Loan Approval Gross Amount

$161,200

Loan Approval from the SBA

Of the total $161,200 loan amount, the SBA guaranteed $120,900.

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 only one employee. This SBA loan request indicated that the borrowed money would help generate 10 new jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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