Raleigh, NC Entrepreneur Gets SBA Loan to Buy Sports Clips Franchise

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

An entrepreneur in Raleigh, North Carolina needed money to invest in a Sports Clips franchise back in 2008. First Bank issued an SBA franchise loan. Here are the details on this North Carolina small business loan.

SBA Loan Borrower

SPORT CLIPS
RALEIGH, NC 27613

SBA Loan Lender

FIRST BANK
11901 OLIVE BLVD
CREVE COEUR, MO 63141

This lender provides SBA business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812112 - Beauty Salons

Loan Approval Date

1/25/2008

Loan Approval Gross Amount

$339,700

Loan Approval from the SBA

Of the total $339,700 loan amount, the SBA guaranteed $254,775.

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 20 employees. The loan application indicated that the loan would help generate 9 new jobs.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like First Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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

Small Business Credit Cards

SBA Participating Banks in Creve Coeur, Missouri

SBA Missouri Banks