Lubbock, TX Entrepreneur Gets SBA Loan to Buy Sports Clips Franchise

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

Sports Clips franchise loans are available to Lubbock, Texas entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, American Bank Of Commerce, based in Wolfforth, Texas, issued an SBA franchise loan for a Sports Clips franchise in 2006. We've got all the details on this Texas small business loan.

SBA Loan Borrower

SPORTSCLIP
LUBBOCK, TX 79424

SBA Loan Lender

AMERICAN BANK OF COMMERCE
W 82ND ST AND US HWY 62/82
WOLFFORTH, TX 79382

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812112 - Beauty Salons

Loan Approval Date

8/8/2006

Loan Approval Gross Amount

$175,000

Loan Approval from the SBA

Of the total $175,000 loan amount, the SBA guaranteed $131,250.

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 only one employee. The SBA loan application for the borrower indicated that the loan would help generate 10 new jobs and retain 11 existing jobs.

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

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like American Bank Of Commerce that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Sport Clips

Determining Proper Capital Structure for a Business

Banks in Wolfforth, Texas

Texas SBA Bank Lenders