Norwood 99, LLC
Norwood 99, LLC is a barber shop in Minneapolis, Minnesota, operating as a Floyd's 99 Barbershop franchise. The company was financed with an SBA 7(a) loan for a change of ownership totaling $773,000, approved through KeyBank National Association on January 29, 2026.
SBA 7(a) loan, change of ownership, approved Jan 29, 2026
$773,000 approvedLender: KeyBank National Association10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $773,000
- SBA-guaranteed amount
- $579,750 (75% of the approval)
- Lender
- KeyBank National Association, Cleveland, OH
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 8.75%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- January 29, 2036 (estimated, approval date plus term)
- Estimated monthly payment
- $9,688 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Mar 16, 2026
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 22
- Business type
- Corporation
- NAICS
- 812111, Barber Shops
- Franchise
- Floyd's 99 Barbershop
- Project location
- Hennepin County, MN
- SBA district office
- Minnesota District Office
- Congressional district
- MN-05
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Barber Shops: $1,648,867.
- Average acquisition loan in Minnesota: $1,482,119.
Loan amounts are the SBA approval, not a purchase price. Figures labeled estimated are derived on this site and are not published by the SBA.
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