Missouri Entrepreneur Secures Financing to Buy Great Clips Franchise

Need a loan to buy a Great Clips franchise? Eagle Bank & Trust - Missouri has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Great Clips franchise shouldn't be too tough. In 2000, Eagle Bank & Trust - Missouri issued an SBA franchise loan to an entrepreneur in Festus, Missouri. Because Great Clips was registered with the SBA's registry of franchises, this Missouri small business loan was issued on an expedited basis.

SBA Loan Borrower

MCE ENTERPRISES
FESTUS, MO 63028

SBA Loan Lender

EAGLE BANK & TRUST - MISSOURI
680 S MILL ST
FESTUS, MO 63028

This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7231 - Beauty Shops

Loan Approval Date

1/10/2000

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $40,000.

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 58 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you want money for new small business in Festus MO, you ought to talk with a local Festus SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Festus businesses.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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.

Obtaining Funding - How to Decide How Much to Raise

SBA Banks in Festus, Missouri

SBA Missouri Banks