Loan to Buy Altracolor Franchise Issued By Hancock Bank

Need a loan to purchase an Altracolor franchise? Hancock Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy an Altracolor franchise is doable. In 2001, Hancock Bank issued an SBA franchise loan to an entrepreneur in Mandeville, Louisiana. Because Altracolor was registered with the SBA's registry of franchises, this Louisiana small business loan was issued on an expedited basis.

SBA Loan Borrower

ALTRACOLOR
MANDEVILLE, LA 70471

SBA Loan Lender

HANCOCK BANK
2510 14TH ST
GULFPORT, MS 39501

This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811121 - Automotive Body, Paint, and Interior Repair and Maintenance

Loan Approval Date

11/14/2001

Loan Approval Gross Amount

$80,000

Loan Approval from the SBA

Of the total $80,000 loan amount, the SBA guaranteed $68,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy an Altracolor franchise. At the time of the loan, the company had 3 employees. The loan application did not indicate that the company promised to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Many small businesses receive loans backed by the U.S. Small Business Administration.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $80,000 loan. Remember, things become real when you believe you can achieve them!

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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