Michigan Entrepreneur Secures Financing to Buy Snip-Its Franchise

Need a loan to invest in a Snip-Its franchise? The Huntington National Bank has a history of making these loans and they are guaranteed by the SBA.

Snip-Its franchise loans are available to Grand Rapids, Michigan entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, The Huntington National Bank, based in Columbus, Ohio, issued an SBA franchise loan for a Snip-Its franchise in 2005. We've got all the details on this Michigan small business loan.

SBA Loan Borrower

SNIP-ITS
GRAND RAPIDS, MI 49301

SBA Loan Lender

THE HUNTINGTON NATIONAL BANK
7 EASTON OVAL
COLUMBUS, OH 43219

This SBA loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

812112 - Beauty Salons

Loan Approval Date

1/14/2005

Loan Approval Gross Amount

$108,200

Loan Approval from the SBA

Of the total $108,200 loan amount, the SBA guaranteed $54,100.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Snip-Its franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help retain 2 existing jobs.

Next Steps for Getting an SBA Loan

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.

We can help you find the best banks for small businesses in Grand Rapids or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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