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November 15, 2024 |
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| Home > Small Business Lenders by State > Colorado Business Loan Sources > Pueblo, Business Loans > Vectra Bank Colorado Pueblo Business Loans > Fantastic Sam's Hair Salon Loan | ||||
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Colorado Small Business Funding for Franchises
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Borrow Money to Buy a Fantastic Sam's FranchiseNeed a loan to purchase a Fantastic Sam's franchise? Vectra Bank Colorado has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Pueblo, Colorado needed money to invest in a Fantastic Sam's franchise back in 2001. Vectra Bank Colorado issued an SBA franchise loan. Here are the details on this Colorado small business loan. SBA Loan Borrower FANTASTIC SAM'S HAIR SALON SBA Loan Lender VECTRA BANK COLORADO This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with borrowing money. The low-doc program requires 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. NAICS Code 812112 - Beauty Salons Loan Approval Date 8/20/2001 Loan Approval Gross Amount $128,300 Loan Approval from the SBA Of the total $128,300 loan amount, the SBA guaranteed $109,055. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Fantastic Sam's franchise. At the time of the loan, the company had 12 employees. The loan application did not indicate that the company promised to use the funding to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? 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. This SBA loan was for $128,300. How would you spend $128,300 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: SBA 7A Banks in Pueblo, Colorado
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