Commerce Bank Provides SBA Loan to Buy Great Clips Franchise

Need a loan to buy a Great Clips franchise? Commerce Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Great Clips franchise? If so, here's a 2003 SBA franchise loan that you should know about. Commerce Bank was the lender and the entrepreneur was based in Philadelphia, Pennsylvania.

SBA Loan Borrower

HKP ENTERPRISES LLC
PHILADELPHIA, PA 19106

SBA Loan Lender

COMMERCE BANK
200 LANCASTER AVE
DEVON, PA 19333

This lender provides SBA guaranteed business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812112 - Beauty Salons

Loan Approval Date

3/11/2003

Loan Approval Gross Amount

$170,000

Loan Approval from the SBA

Of the total $170,000 loan amount, the SBA guaranteed $127,500.

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 only one employee. The SBA loan documents indicated that the loan would help generate 24 new jobs and retain 25 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.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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.

Determining Proper Capital Structure for a Business

Who Lends Money to Small Businesses in Devon, Pennsylvania

Find an SBA Lender in Pennsylvania