Broomfield, CO Entrepreneur Gets SBA Loan to Buy Sports Clips Franchise

Borrowing money to purchase a Sports Clips franchise? Temecula Valley Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Sports Clips franchise shouldn't be too tough. In 2002, Temecula Valley Bank issued an SBA franchise loan to an entrepreneur in Broomfield, Colorado. Because Sports Clips was registered with the SBA's registry of franchises, this Colorado small business loan was issued on an expedited basis.

SBA Loan Borrower

SPORT CLIPS
BROOMFIELD, CO 80021

SBA Loan Lender

TEMECULA VALLEY BANK
27710 JEFFERSON AVE, A-100
TEMECULA, CA 92590

This lender issued this loan for a small business under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7231 - Beauty Shops

NAICS Code

812111 - Barber Shops

Loan Approval Date

2/26/2002

Loan Approval Gross Amount

$182,900

Loan Approval from the SBA

Of the total $182,900 loan amount, the SBA guaranteed $137,175.

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 6 employees. The loan application did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Temecula Valley Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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