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April 26, 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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Fifth Third Bank Franchise Business Loans
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Cincinnati, OH Entrepreneur Gets SBA Loan to Buy Great Clips FranchiseNeed a loan to buy a Great Clips franchise? Fifth Third Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Cincinnati, Ohio needed money to invest in a Great Clips franchise back in 2001. Fifth Third Bank issued an SBA franchise loan. Here are the details on this Ohio small business loan. SBA Loan Borrower GREAT CLIPS SBA Loan Lender FIFTH THIRD BANK This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7231 - Beauty Shops NAICS Code 812112 - Beauty Salons Loan Approval Date 9/10/2001 Loan Approval Gross Amount $71,700 Loan Approval from the SBA Of the total $71,700 loan amount, the SBA guaranteed $60,945. 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 did not indicate that the business planned to use the funding to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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: The Friends and Family Network Good Banks for Small Business in Cincinnati, Ohio
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