Beverly, MA - Fantastic Sams Hair Salons, with over 1300 full-service franchise salons, received approval to be listed on the United States Small Business Administration "SBA" Franchise Registry in several regions around the nation. According to Fantastic Sams, the action will help expedite the loan process for new and existing Fantastic Sams franchise ownerses that wish to start or expand their salon business.
The Franchise Registry, operated by Fran-Data in partnership with the SBA, is an online national registry of franchise systems whose new and existing franchisees receive streamlined loan processing. Fewer than 30 percent of all franchise systems qualify for listing on the Registry. Applicants must submit their franchise contracts to ensure compliance with strict SBA criteria.
"The current lending environment necessitates providing our franchise ownerses with a variety of resources to secure financing for the development of their salon business." explained Jeff Sturgis, Fantastic Sams Vice President, Franchise Development. "We believe approval on the SBA Registry provides a real benefit for our owners."
Already a prominent player in the $59 billion hair salon industry, Fantastic Sams offers a full range of hair salon services catering to men, women and children of all ages. Customers at any Fantastic Sams can expect full service treatment from a professional team of stylists who are up-to-date on the latest trends and fashions. Fantastic Sams franchise owners don't typically work in their salon full-time and often have corporate management experience, not direct salon industry experience. Success criteria for Fantastic Sams' owners include strong management ability, leadership skills and keeping engaged in the business.
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