Thornton, CO Entrepreneur Gets SBA Loan to Buy Fantastic Sam's Franchise

Need money to purchase a Fantastic Sam's franchise? Liberty Savings Bank, F.S.B. has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Thornton, Colorado needed money to invest in a Fantastic Sam's franchise back in 2005. Liberty Savings Bank, F.S.B. issued an SBA franchise loan. Here are the details on this Colorado small business loan.

SBA Loan Borrower

FANTASTIC SAMS
THORNTON, CO 80229

SBA Loan Lender

LIBERTY SAVINGS BANK, F.S.B.
2251 ROMBACH AVE
WILMINGTON, OH 45177

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.

NAICS Code

812112 - Beauty Salons

Loan Approval Date

6/13/2005

Loan Approval Gross Amount

$144,000

Loan Approval from the SBA

Of the total $144,000 loan amount, the SBA guaranteed $122,400.

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 9 employees. The loan application did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $144,000 loan. Remember, feel the fear, and do it anyway.

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

Getting a Small Business Loan

Small Business Banks in Wilmington, Ohio

Find an SBA Lender in Ohio