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December 26, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Bettendorf, Business Loans > Quad City Bank & Trust Bettendorf Business Loans > Big League Barbers Loan | ||||
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Davenport, Iowa Bank Loan
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Iowa Entrepreneur Secures Financing to Buy Big League Barber Shop FranchiseNeed money to buy a Big League Barber Shop franchise? Quad City Bank & Trust has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Davenport, Iowa needed money to invest in a Big League Barber Shop franchise back in 2005. Quad City Bank & Trust issued an SBA franchise loan. Here are the details on this Iowa small business loan. SBA Loan Borrower BIG LEAGUE BARBERS SBA Loan Lender QUAD CITY BANK & TRUST The lender provided this small business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 812111 - Barber Shops Loan Approval Date 8/3/2005 Loan Approval Gross Amount $70,000 Loan Approval from the SBA Of the total $70,000 loan amount, the SBA guaranteed $35,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Big League Barber Shop franchise. At the time of the loan, the company had 18 employees. The SBA loan application for the borrower indicated that the loan would help generate 9 new jobs and retain 9 existing jobs. Start the Process for Getting an SBA Loan Today! SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Quad City Bank & Trust and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Determining Proper Capital Structure for a Business Best Bettendorf, Iowa Banks for Small Business
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