Borrow Money to Buy a Great Clips Franchise

Need money to buy a Great Clips franchise? First Volunteer Bank - Tennessee has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Hixson, Tennessee needed money to invest in a Great Clips franchise back in 2001. First Volunteer Bank - Tennessee issued an SBA franchise loan. Here are the details on this Tennessee small business loan.

SBA Loan Borrower

GREAT CLIPS FOR HAIR
HIXSON, TN 37343

SBA Loan Lender

FIRST VOLUNTEER BANK - TENNESSEE
5109 HIXSON PIKE
HIXSON, TN 37343

This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with getting a loan . 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. Currently, $100,000 is the maximum loan amount.

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

9/5/2001

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $51,000.

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 16 employees. The SBA loan documents did not indicate that the company planned to use the funding to add employees or retain any existing employees.

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

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

This company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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.

SBIR Funding

Best Banks in Hixson, Tennessee

SBA Tennessee Lenders