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April 23, 2024 |
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| Home > Small Business Lenders by State > Georgia Business Loan Sources > Charlotte, Business Loans > Bank Of America Charlotte Business Loans > Asrk Enterprises, LLC Dba Grea Loan | ||||
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Where to Get a Bank Loan to Purchase a Franchise
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Bank Of America Provides SBA Loan to Buy Great Clips FranchiseNeed money to purchase a Great Clips franchise? Bank Of America has a history of making these loans and they are guaranteed by the SBA. Great Clips franchise loans are available to Duluth, Georgia entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Bank Of America, based in Charlotte, North Carolina, issued an SBA franchise loan for a Great Clips franchise in 2005. We've got all the details on this Georgia small business loan. SBA Loan Borrower ASRK ENTERPRISES, LLC DBA GREA SBA Loan Lender BANK OF AMERICA This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 2/11/2005 Loan Approval Gross Amount $15,000 Loan Approval from the SBA Of the total $15,000 loan amount, the SBA guaranteed $7,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Great Clips franchise. At the time of the loan, the company had 12 employees. This SBA loan request indicated that the loan would help retain 12 existing jobs. Next Steps for Getting an SBA Loan 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. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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: How Much Venture Capital Is There? Best Charlotte, North Carolina Banks for Small Business
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