Gahanna, OH Entrepreneur Gets SBA Loan to Buy Great Clips Franchise

Need a loan to invest in a Great Clips franchise? Textron Business Credit, Inc. has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Great Clips franchise? If so, here's a 2001 SBA franchise loan that you should know about. Textron Business Credit, Inc. was the lender and the entrepreneur was based in Gahanna, Ohio.

SBA Loan Borrower

GREAT CLIPS
GAHANNA, OH 43230

SBA Loan Lender

TEXTRON BUSINESS CREDIT, INC.
40 WESTMINISTER ST
PROVIDENCE, RI 02903

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

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

4/6/2001

Loan Approval Gross Amount

$92,547

Loan Approval from the SBA

Of the total $92,547 loan amount, the SBA guaranteed $78,664.

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 8 employees. The loan application did not indicate that the company planned to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Textron Business Credit, Inc. so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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.

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