Oneonta, AL Entrepreneur Gets SBA Loan to Buy Fantastic Sam's Franchise

Borrowing money to purchase a Fantastic Sam's franchise? Textron Business Credit, Inc. has a history of making these loans and they are guaranteed by the SBA.

Fantastic Sam's franchise loans are available to Oneonta, Alabama entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Textron Business Credit, Inc., based in Providence, Rhode Island, issued an SBA franchise loan for a Fantastic Sam's franchise in 2001. We've got all the details on this Alabama small business loan.

SBA Loan Borrower

FANTASTIC SAM'S
ONEONTA, AL 36018

SBA Loan Lender

TEXTRON BUSINESS CREDIT, INC.
40 WESTMINISTER ST
PROVIDENCE, RI 02903

This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with getting a loan . 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. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7231 - Beauty Shops

NAICS Code

812112 - Beauty Salons

Loan Approval Date

5/21/2001

Loan Approval Gross Amount

$74,250

Loan Approval from the SBA

Of the total $74,250 loan amount, the SBA guaranteed $63,112.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Fantastic Sam's franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower did not indicate that the business planned to use the money to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Textron Business Credit, Inc. 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:

Fantastic Sams

VC Firms on Twitter

SBA Participating Banks in Providence, Rhode Island

Rhode Island SBA 7A Lenders