Texas Entrepreneur Secures Financing to Buy Sports Clips Franchise

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

Getting money to buy a Sports Clips franchise may simply require a phone call to a local SBA banker. In 2000, Trustmark National Bank issued an SBA franchise loan to an entrepreneur in Sugar Land, Texas. Because Sports Clips was registered with the SBA's registry of franchises, this Texas small business loan was issued on an expedited basis.

SBA Loan Borrower

SPORT CLIPS
SUGAR LAND, TX 77479

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.

SIC Code

7231 - Beauty Shops

Loan Approval Date

1/10/2000

Loan Approval Gross Amount

$112,000

Loan Approval from the SBA

Of the total $112,000 loan amount, the SBA guaranteed $84,000.

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 10 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

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.

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