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November 15, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Brandon, Business Loans > Trustmark National Bank Brandon Business Loans > Sport Clips Loan | ||||
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Trustmark National Bank Small Business Franchise Loan
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Trustmark National Bank Provides SBA Loan to Buy Sports Clips FranchiseNeed money to invest in a Sports Clips franchise? Trustmark National Bank has a history of making these loans and they are guaranteed by the SBA. Sports Clips franchise loans are available to Garland, Texas entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Trustmark National Bank, based in Brandon, Mississippi, issued an SBA franchise loan for a Sports Clips franchise in 2001. We've got all the details on this Texas small business loan. SBA Loan Borrower SPORT CLIPS SBA Loan Lender TRUSTMARK NATIONAL BANK This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812112 - Beauty Salons Loan Approval Date 9/24/2001 Loan Approval Gross Amount $98,000 Loan Approval from the SBA Of the total $98,000 loan amount, the SBA guaranteed $83,300. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Sports Clips franchise. At the time of the loan, the company had 10 employees. This SBA loan request did not indicate that the small business promised to use the funding to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! Many small businesses receive loans backed by the U.S. Small Business Administration. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: SBA 7A Banks for Brandon, Mississippi Loans
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