Fantastic Sams, the oldest full service hair salon chain based in Massachusetts, has been approved for a franchisee lending program created by The Bancorp, whose primary financial institution is The Bancorp Bank.
Offered through The Bancorp’s Small Business Lending unit, this new partnership creates a strategic way to not only provide startup funding to prospective franchisees looking to become part of the Fantastic Sams family but to also provide working capital for existing franchisees to improve and expand their businesses.
Fantastic Sams has wasted no time creating a new and improved image based on innovation. Start-ups and existing franchises will have a stylish and elegant retail appeal through the use of inexpensive yet fashionable décor and modern equipment. The goal is to deliver a unique experience to customers.
Fantastic Sams is not the only company to benefit from The Bancorp Lending program, which begin in 2010. The Bancorp has funded over $300 million to small businesses including franchisees and licensees. The Bancorp works together with the franchisor to create a unique financing model that strives to create a successful platform for start-ups and fosters the growth of expanding business.
Our national program has a smooth, time-sensitive loan approval process. This access to capitalization will enable qualified franchisees to build their business, their industry, and an employment base to create jobs. We are thrilled to have Fantastic Sams as a member of our national lending program.