Gretna, LA Entrepreneur Gets SBA Loan to Buy Fantastic Sam's Franchise

Need money to buy a Fantastic Sam's franchise? A S I Fcu has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Fantastic Sam's franchise requires some effort but others before you have been successful. In 2003, A S I Fcu issued an SBA franchise loan to an entrepreneur in Gretna, Louisiana. Because Fantastic Sam's was registered with the SBA's registry of franchises, this Louisiana small business loan was issued on an expedited basis.

SBA Loan Borrower

FANTASTIC SAM'S
GRETNA, LA 70054

SBA Loan Lender

A S I FCU
5508 CITRUS BLVD
HARAHAN, LA 70123

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812111 - Barber Shops

Loan Approval Date

8/25/2003

Loan Approval Gross Amount

$110,000

Loan Approval from the SBA

Of the total $110,000 loan amount, the SBA guaranteed $93,500.

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 15 employees. The loan application did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from A S I Fcu so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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

A Company That Helps Entrepreneurs

Where to Get an SBA Loan in Harahan, Louisiana

Louisiana SBA 7A Banks