Loan to Buy Cost Cutter Family Hair Care Franchise Issued By Fnb Salem Bank & Trust

Borrowing money to buy a Cost Cutter Family Hair Care franchise? Fnb Salem Bank & Trust has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Cost Cutter Family Hair Care franchise? If so, here's a 2002 SBA franchise loan that you should know about. Fnb Salem Bank & Trust was the lender and the entrepreneur was based in Roanoke, Virginia.

SBA Loan Borrower

COST CUTTERS FAMILY HAIR CARE
ROANOKE, VA 24016

SBA Loan Lender

FNB SALEM BANK & TRUST
110 E MAIN ST
SALEM, VA 24153

This lender issued this particular SBA business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7241 - Barber Shops

NAICS Code

812111 - Barber Shops

Loan Approval Date

10/21/2002

Loan Approval Gross Amount

$130,000

Loan Approval from the SBA

Of the total $130,000 loan amount, the SBA guaranteed $110,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Cost Cutter Family Hair Care franchise. At the time of the loan, the company had 98 employees. The SBA loan documents did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

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 $130,000 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.

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