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November 15, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Highland Village, Business Loans > United Community Bank Highland Village Business Loans > Sport Clips Loan | ||||
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Hickory Creek, Texas Bank Loan
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Texas Entrepreneur Secures Financing to Buy Sports Clips FranchiseBorrowing money to purchase a Sports Clips franchise? United Community Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Hickory Creek, Texas needed money to invest in a Sports Clips franchise back in 2002. United Community Bank issued an SBA franchise loan. Here are the details on this Texas small business loan. SBA Loan Borrower SPORT CLIPS SBA Loan Lender UNITED COMMUNITY BANK This lender issued this particular SBA business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812112 - Beauty Salons Loan Approval Date 7/30/2002 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 a new business. This loan was used to buy a Sports Clips franchise. At the time of the loan, the company had 6 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the money to add employees or retain any existing employees. Next Steps for Getting an SBA Loan If you need business start up money in Hickory Creek TX, you ought to talk with a local Hickory Creek SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Hickory Creek businesses. 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 Banks in Highland Village, Texas
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