Macatawa Bank Provides SBA Loan to Buy Great Clips Franchise

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

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

SBA Loan Borrower

GREAT CLIPS
HOLLAND, MI 49464

SBA Loan Lender

MACATAWA BANK
10753 MACATAWA DR
HOLLAND, MI 49424

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

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

10/29/2003

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

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 20 employees. The loan application did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans provide money to small business owners for working capital for other expenses.

This SBA loan was for $100,000. How would you spend $100,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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.

Getting a Small Business Loan

Best Holland, Michigan Banks for Small Business

Find an SBA Lender in Michigan