Ridgeland, MS Entrepreneur Gets SBA Loan to Buy Armstrong Mccall Franchise

Need money to invest in an Armstrong Mccall franchise? Ecd Investments Bidco Corp has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy an Armstrong Mccall franchise shouldn't be overly burdensome. In 2002, Ecd Investments Bidco Corp issued an SBA franchise loan to an entrepreneur in Ridgeland, Mississippi. Because Armstrong Mccall was registered with the SBA's registry of franchises, this Mississippi small business loan was issued on an expedited basis.

SBA Loan Borrower

ARMSTRONG MCCALL
RIDGELAND, MS 39157

SBA Loan Lender

ECD INVESTMENTS BIDCO CORP
909 NORTH 18TH ST, STE 223
MONROE, LA 71201

This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5087 - Service Establishment Equipment and Supplies

NAICS Code

446110 - Pharmacies and Drug Stores

Loan Approval Date

11/4/2002

Loan Approval Gross Amount

$211,000

Loan Approval from the SBA

Of the total $211,000 loan amount, the SBA guaranteed $158,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy an Armstrong Mccall franchise. At the time of the loan, the company had 16 employees. This SBA loan request did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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