Borrowing Money for Beauty Salons

Looking for loans for beauty salons? Talk to a banker who works with the SBA. This $30,000 beauty salons loan was issued by a North Carolina bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Albuquerque, New Mexico was able to borrow $30,000 from Bank Of America. The SBA made the loan possible by guaranteeing $15,000 of this New Mexico small business loan.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
ALBUQUERQUE, NM 87111

SBA Loan Lender

BANK OF AMERICA
100 N TRYON ST
CHARLOTTE, NC 28255

The lender provided this business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

812112 - Beauty Salons

Loan Approval Date

5/15/2003

Loan Approval Gross Amount

$30,000

Loan Approval from the SBA

Of the total $30,000 loan amount, the SBA guaranteed $15,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help retain 1 existing job.

Getting an SBA Loan For Your Business

If you are working on finding money to start a business in Albuquerque NM, you ought to talk with a local Albuquerque SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Albuquerque businesses.

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 $30,000 loan. Remember, feel the fear, and do it anyway.

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:

How to Raise Money

SBA 7A Banks for Charlotte, North Carolina Loans

North Carolina SBA 7A Banks