Loan to Buy Golf Etc. Franchise Issued By Compass Bank

Need a loan to buy a Golf Etc. franchise? Compass Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Golf Etc. franchise? If so, here's a 2000 SBA franchise loan that you should know about. Compass Bank was the lender and the entrepreneur was based in Weatherford, Texas.

SBA Loan Borrower

GOLF ETC WEATHERFORD
WEATHERFORD, TX 76086

SBA Loan Lender

COMPASS BANK
8875 HWY 80 WEST
FORT WORTH, TX 76116

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5941 - Sporting Goods Stores and Bicycle Shops

NAICS Code

451110 - Sporting Goods Stores

Loan Approval Date

6/27/2000

Loan Approval Gross Amount

$102,400

Loan Approval from the SBA

Of the total $102,400 loan amount, the SBA guaranteed $76,800.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Golf Etc. franchise. At the time of the loan, the company had only one employee. This SBA loan request did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees.

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.

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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