Commercial Loans for Beauty Salons

Looking for commercial loans for beauty salons? Talk to a banker who works with the SBA. This $100,000 beauty salons loan was issued by a Minnesota bank.

Getting a small business loan in Alexandria, Minnesota was important for this small business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from First State Bank Of Alexandria, operating out of Alexandria, Minnesota. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SHOPS
ALEXANDRIA, MN 56308

SBA Loan Lender

FIRST STATE BANK OF ALEXANDRIA
3313 HWY 29 SOUTH
ALEXANDRIA, MN 56308

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

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

8/30/2002

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 8 employees. The loan application did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you want money for new small business in Alexandria MN, you ought to talk with a local Alexandria SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Alexandria businesses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like First State Bank Of Alexandria are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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:

Getting a Small Business Loan

SBA 7A Banks in Alexandria, Minnesota

SBA Participating Banks in Minnesota