Loan to Buy Sports Clips Franchise Issued By Regions Bank

Need money to purchase a Sports Clips franchise? Regions Bank has a history of making these loans and they are guaranteed by the SBA.

Sports Clips franchise loans are available to Greenville, South Carolina entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Regions Bank, based in Birmingham, Alabama, issued an SBA franchise loan for a Sports Clips franchise in 2007. We've got all the details on this South Carolina small business loan.

SBA Loan Borrower

KALTG, INC
Greenville, SC 29615

SBA Loan Lender

REGIONS BANK
417 NORTH 20TH ST
BIRMINGHAM, AL 35203

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

8/20/2007

Loan Approval Gross Amount

$321,500

Loan Approval from the SBA

Of the total $321,500 loan amount, the SBA guaranteed $160,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Sports Clips franchise. At the time of the loan, the company had no employees. The loan application indicated that the funding would help generate 10 new jobs.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

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.

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SBA Banks in Birmingham, Alabama

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