Lawrenceburg, IN Entrepreneur Gets SBA Loan to Buy Great Clips Franchise

Borrowing money to purchase a Great Clips franchise? The Park National Bank has a history of making these loans and they are guaranteed by the SBA.

Great Clips franchise loans are available to Lawrenceburg, Indiana entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, The Park National Bank, based in Cincinnati, Ohio, issued an SBA franchise loan for a Great Clips franchise in 2002. We've got all the details on this Indiana small business loan.

SBA Loan Borrower

GREAT CLIPS
LAWRENCEBURG, IN 47027

SBA Loan Lender

THE PARK NATIONAL BANK
720 E PETE ROSE WAY
CINCINNATI, OH 45202

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

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

7/29/2002

Loan Approval Gross Amount

$98,250

Loan Approval from the SBA

Of the total $98,250 loan amount, the SBA guaranteed $83,512.

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 5 employees. The SBA loan documents did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

This company got an SBA loan. You can too! Maybe you need seed money for 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.

The Art of Bootstrapping

Small Bank Loans in Cincinnati, Ohio

SBA Ohio Lenders