Loan to Buy Great Clips Franchise Issued By First Security Bank - Missoula

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

If you live near Missoula, Montana and are interested in buying a Great Clips franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2000 by First Security Bank - Missoula. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

GREAT CLIPS
MISSOULA, MT 59803

SBA Loan Lender

FIRST SECURITY BANK - MISSOULA
1704 DEARBORN AVE
MISSOULA, MT 59801

This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7231 - Beauty Shops

Loan Approval Date

1/21/2000

Loan Approval Gross Amount

$140,000

Loan Approval from the SBA

Of the total $140,000 loan amount, the SBA guaranteed $105,000.

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 10 employees. The loan application did not indicate that the company promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $140,000 loan. Remember, you control your own destiny.

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

Best Banks for Small Business in Missoula, Montana

Montana SBA 7A Lenders