Loan to Buy Sports Clips Franchise Issued By Trustmark National Bank

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

Want to borrow money to buy a Sports Clips franchise? If so, here's a 2003 SBA franchise loan that you should know about. Trustmark National Bank was the lender and the entrepreneur was based in Norman, Oklahoma.

SBA Loan Borrower

SPORT CLIPS
NORMAN, OK 73072

SBA Loan Lender

TRUSTMARK NATIONAL BANK
106 GOVERNMENT ST
BRANDON, MS 39042

This loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

812111 - Barber Shops

Loan Approval Date

6/19/2003

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $125,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Sports Clips franchise. At the time of the loan, the company had 15 employees. The SBA loan application for the borrower indicated that the loan would help generate 6 new jobs and retain 15 existing jobs.

Next Steps for Getting an SBA Loan

Don't apply for a loan directly with the SBA. You need to 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.

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 $250,000 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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