Sovereign Bank Provides SBA Loan to Buy Fantastic Sam's Franchise

Borrowing money to purchase a Fantastic Sam's franchise? Sovereign Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Doylestown, Pennsylvania and are interested in buying a Fantastic Sam's franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2003 by Sovereign Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

DST & ASSOCIATES INC
DOYLESTOWN, PA 18901

SBA Loan Lender

SOVEREIGN BANK
1130 BERKSHIRE BLVD
WYOMISSING, PA 19610

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

812112 - Beauty Salons

Loan Approval Date

9/30/2003

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $63,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Fantastic Sam's franchise. At the time of the loan, the company had 10 employees. The SBA loan application for the borrower indicated that the funding would help generate 10 new jobs.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Sovereign 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

Financing Your Business

Best Banks for Small Business in Wyomissing, Pennsylvania

Pennsylvania SBA Banks