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April 20, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Honor, Business Loans > The Honor State Bank Honor Business Loans > Great Clips Loan | ||||
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Lake Zurich, Illinois Bank Loan
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The Honor State Bank Provides SBA Loan to Buy Great Clips FranchiseBorrowing money to invest in a Great Clips franchise? The Honor State Bank 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 2003 SBA franchise loan that you should know about. The Honor State Bank was the lender and the entrepreneur was based in Lake Zurich, Illinois. SBA Loan Borrower GREAT CLIPS SBA Loan Lender THE HONOR STATE BANK 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 812111 - Barber Shops Loan Approval Date 6/9/2003 Loan Approval Gross Amount $90,000 Loan Approval from the SBA Of the total $90,000 loan amount, the SBA guaranteed $45,000. 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 70 employees. The SBA loan application for the borrower indicated that the loan would help generate 10 new jobs and retain 70 existing jobs. Start the Process for Getting an SBA Loan Today! If you are interested in getting money to start a business or need money to grow a business, an SBA loan can be a great source of funding. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $90,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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:
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