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

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

Sports Clips franchise loans are available to Palestine, Texas entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Trustmark National Bank, based in Houston, Texas, issued an SBA franchise loan for a Sports Clips franchise in 2003. We've got all the details on this Texas small business loan.

SBA Loan Borrower

SPORT CLIPS
PALESTINE, TX 75803

SBA Loan Lender

TRUSTMARK NATIONAL BANK
3715 FM 1960 WEST
HOUSTON, TX 77068

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812112 - Beauty Salons

Loan Approval Date

1/2/2003

Loan Approval Gross Amount

$112,000

Loan Approval from the SBA

Of the total $112,000 loan amount, the SBA guaranteed $95,200.

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 6 employees. The SBA loan application for the borrower did not indicate that the business promised to use the money to add employees or retain any existing employees.

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

Don't forget. To get an SBA loan, you must 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.

We can help you find the best banks for small businesses in Palestine or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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

Business Line of Credit

Small Bank Loans in Houston, Texas

SBA Lenders in Texas