Fifth Third Bank Provides SBA Loan to Buy Great Clips Franchise

Need money to invest in a Great Clips franchise? Fifth Third Bank has a history of making these loans and they are guaranteed by the SBA.

Great Clips franchise loans are available to London, Ohio entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Fifth Third Bank, based in Dayton, Ohio, issued an SBA franchise loan for a Great Clips franchise in 2003. We've got all the details on this Ohio small business loan.

SBA Loan Borrower

GREAT CLIPS
LONDON, OH 43140

SBA Loan Lender

FIFTH THIRD BANK
110 N MAIN ST
DAYTON, OH 45402

This lender issued this particular loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

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

8/18/2003

Loan Approval Gross Amount

$67,242

Loan Approval from the SBA

Of the total $67,242 loan amount, the SBA guaranteed $57,155.

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 2 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the funding to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Fifth Third Bank and they will explain how you can get an SBA loan for your company.

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:

Great Clips, Inc.

Business Credit Evaluation

SBA 7A Banks for Dayton, Ohio Loans

SBA Ohio Lenders