Pennsylvania Entrepreneur Secures Financing to Buy Fantastic Sam's Franchise

Need money to buy a Fantastic Sam's franchise? National City Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Fantastic Sam's franchise is doable. In 2002, National City Bank issued an SBA franchise loan to an entrepreneur in Chippewa, Pennsylvania. Because Fantastic Sam's was registered with the SBA's registry of franchises, this Pennsylvania small business loan was issued on an expedited basis.

SBA Loan Borrower

FANTASTIC SAM'S
CHIPPEWA, PA 15010

SBA Loan Lender

NATIONAL CITY BANK
801 STATE ST
ERIE, PA 16501

This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with getting a loan . The low-doc program is quick, requiring 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.

SIC Code

7231 - Beauty Shops

NAICS Code

812112 - Beauty Salons

Loan Approval Date

3/14/2002

Loan Approval Gross Amount

$130,000

Loan Approval from the SBA

Of the total $130,000 loan amount, the SBA guaranteed $110,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Fantastic Sam's franchise. At the time of the loan, the company had 8 employees. The loan application did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

If you need business start up money in Chippewa PA, you ought to talk with a local Chippewa SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Chippewa businesses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like National City Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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.

Related Links:

Fantastic Sams

How Equity Dilution Works

Banks in Erie, Pennsylvania

Pennsylvania SBA 7A Banks