Pennsylvania Entrepreneur Secures Financing to Buy Great Clips Franchise

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

If you live near Collegeville, Pennsylvania and are interested in buying a Great Clips franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2003 by Bank Of America. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

GREAT CLIPS FOR HAIR
COLLEGEVILLE, PA 19426

SBA Loan Lender

BANK OF AMERICA
4 SENTRY PKWY, STE 200
BLUE BELL, PA 19422

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812112 - Beauty Salons

Loan Approval Date

11/21/2003

Loan Approval Gross Amount

$130,000

Loan Approval from the SBA

Of the total $130,000 loan amount, the SBA guaranteed $110,500.

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 only one employee. The SBA loan application for the borrower indicated that the loan would help generate 4 new jobs and retain 1 existing job.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

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 Bank Of America 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 Incubators

Small Business Banks in Blue Bell, Pennsylvania

SBA Pennsylvania Banks