Loan to Buy Sports Clips Franchise Issued By First Bank

Need a loan to buy a Sports Clips franchise? First Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Hudson, Wisconsin needed money to invest in a Sports Clips franchise back in 2007. First Bank issued an SBA franchise loan. Here are the details on this Wisconsin small business loan.

SBA Loan Borrower

SPORTS CLIP
HUDSON, WI 54016

SBA Loan Lender

FIRST BANK
11901 OLIVE BLVD
CREVE COEUR, MO 63141

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812111 - Barber Shops

Loan Approval Date

4/9/2007

Loan Approval Gross Amount

$160,000

Loan Approval from the SBA

Of the total $160,000 loan amount, the SBA guaranteed $120,000.

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 2 employees. This SBA loan request indicated that the funding would help generate 8 new jobs.

Next Steps for Getting an SBA Loan

If you need money to start a business or already have a business and need money to expand, an SBA loan can be a great funding source

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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