Loan to Buy Cost Cutter Family Hair Care Franchise Issued By Herget Bank

Borrowing money to invest in a Cost Cutter Family Hair Care franchise? Herget Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Roscoe, Illinois and are interested in buying a Cost Cutter Family Hair Care franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2000 by Herget Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

COST CUTTERS FAMILY HAIR CARE
ROSCOE, IL 61073

SBA Loan Lender

HERGET BANK
33 S 4TH ST
PEKIN, IL 61554

This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

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

2/2/2000

Loan Approval Gross Amount

$33,000

Loan Approval from the SBA

Of the total $33,000 loan amount, the SBA guaranteed $26,400.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Cost Cutter Family Hair Care franchise. At the time of the loan, the company had 9 employees. The loan application did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you want money to buy a franchise? 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:

Cost Cutters

Borrowing Money from Friends and Family

SBA 7A Banks for Pekin, Illinois Loans

Getting a Business Loan in Illinois