North Carolina Entrepreneur Secures Financing to Buy Fantastic Sam's Franchise

Borrowing money to buy a Fantastic Sam's franchise? Comerica Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Fantastic Sam's franchise shouldn't be too tough. In 2000, Comerica Bank issued an SBA franchise loan to an entrepreneur in Hillsborough, North Carolina. Because Fantastic Sam's was registered with the SBA's registry of franchises, this North Carolina small business loan was issued on an expedited basis.

SBA Loan Borrower

FANTASTIC SAMS
HILLSBOROUGH, NC 27278

SBA Loan Lender

COMERICA BANK
1717 MAIN
DALLAS, TX 75201

This lender issued this commercial loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7231 - Beauty Shops

NAICS Code

812112 - Beauty Salons

Loan Approval Date

3/1/2000

Loan Approval Gross Amount

$198,000

Loan Approval from the SBA

Of the total $198,000 loan amount, the SBA guaranteed $148,500.

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 18 employees. This SBA loan request did not indicate that the business planned to use the money to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you are wondering how to find money to start a business or already have a business and need money to expand, an SBA loan can be a great way to raise money

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 Comerica Bank 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

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SBA 7A Banks for Dallas, Texas Loans

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