Schertz, TX Entrepreneur Gets SBA Loan to Buy Fantastic Sam's Franchise
Borrowing money to buy a Fantastic Sam's franchise? Broadway National Bank has a history of making these loans and they are guaranteed by the SBA.
Getting money to buy a Fantastic Sam's franchise may simply require a phone call to a local SBA banker. In 2005, Broadway National Bank issued an SBA franchise loan to an entrepreneur in Schertz, Texas. Because Fantastic Sam's was registered with the SBA's registry of franchises, this Texas small business loan was issued on an expedited basis.
SBA Loan Borrower
FANTASTIC SAMS
SCHERTZ, TX 78154
SBA Loan Lender
BROADWAY NATIONAL BANK
1177 NE LOOP 410
SAN ANTONIO, TX 78209
This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.
SBA Loan Program Type
This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.
NAICS Code
812112 - Beauty Salons
Loan Approval Date
2/23/2005
Loan Approval Gross Amount
$110,000
Loan Approval from the SBA
Of the total $110,000 loan amount, the SBA guaranteed $55,000.
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 3 employees. The loan application indicated that the loan would help create 3 new jobs.
Start the Process for Getting an SBA Loan Today!
SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.
This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.
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
Determining Proper Capital Structure for a Business
SBA Approved Banks in San Antonio, Texas
SBA Lenders in Texas