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November 15, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Dallas, Business Loans > Citibank Dallas Business Loans > Fast-Fix Jewelry Repairs Loan | ||||
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Citibank SBA 7A Franchise Loans
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Hurst, TX Entrepreneur Gets SBA Loan to Buy Fast-Fix Jewelry Repairs FranchiseBorrowing money to buy a Fast-Fix Jewelry Repairs franchise? Citibank has a history of making these loans and they are guaranteed by the SBA. If you live near Hurst, Texas and are interested in buying a Fast-Fix Jewelry Repairs franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2000 by Citibank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase. SBA Loan Borrower FAST-FIX JEWELRY REPAIRS SBA Loan Lender CITIBANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7631 - Watch, Clock, and Jewelry Repair NAICS Code 811490 - Personal and Household Goods Repair and Maintenance Loan Approval Date 12/22/2000 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $112,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Fast-Fix Jewelry Repairs franchise. At the time of the loan, the company had 8 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. 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 Participating Banks in Dallas, Texas SBA Participating Banks in Texas
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