Pennsylvania Entrepreneur Secures Financing to Buy Famous Sams Franchise

Need a loan to buy a Famous Sams franchise? Sovereign Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Doylestown, Pennsylvania needed money to invest in a Famous Sams franchise back in 2002. Sovereign Bank issued an SBA franchise loan. Here are the details on this Pennsylvania small business loan.

SBA Loan Borrower

FANTASTIC SAMS
DOYLESTOWN, PA 18901

SBA Loan Lender

SOVEREIGN BANK
1130 BERKSHIRE BLVD
WYOMISSING, PA 19610

This lender provides SBA commercial loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812112 - Beauty Salons

Loan Approval Date

8/28/2002

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 a new business. This loan was used to buy a Famous Sams franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help generate 12 new jobs.

Getting an SBA Loan For Your Business

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

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $75,000 loan. Remember, anyone can do it... so why not 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:

Famous Sam's Inc.

Obtaining Funding - Getting Venture Capital

Banks in Wyomissing, Pennsylvania

Pennsylvania SBA Banks