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May 7, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Cincinnati, Business Loans > Fifth Third Bank Cincinnati Business Loans > Great Clips Loan | ||||
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Tips for Borrowing Money to Buy a Franchise
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Fifth Third Bank Provides SBA Loan to Buy Great Clips FranchiseNeed a loan to purchase a Great Clips franchise? Fifth Third Bank has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Great Clips franchise shouldn't be too tough. In 2001, Fifth Third Bank issued an SBA franchise loan to an entrepreneur in Cincinnati, Ohio. Because Great Clips was registered with the SBA's registry of franchises, this Ohio small business loan was issued on an expedited basis. SBA Loan Borrower GREAT CLIPS SBA Loan Lender FIFTH THIRD BANK The lender provided this bank loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 812112 - Beauty Salons Loan Approval Date 11/21/2001 Loan Approval Gross Amount $20,000 Loan Approval from the SBA Of the total $20,000 loan amount, the SBA guaranteed $10,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Great Clips franchise. At the time of the loan, the company had 8 employees. The loan application indicated that the borrowed money would help create 8 new jobs. Start the Process for Getting an SBA Loan Today! SBA loans provide smart, affordable business financing for small businesses looking to expand. We can help you find the best banks for small businesses in Cincinnati or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Small Bank Loans in Cincinnati, Ohio
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