How to Get a Loan for Beauty Salons

Looking for business loans for beauty salons? Try the SBA. This $502,700 beauty salons loan was issued by a Minnesota bank.

This business received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Anchor Bank, out of Wayzata, Minnesota. The loan was granted and they received $502,700 to help grow their Apple Valley, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
APPLE VALLEY, MN 55124

SBA Loan Lender

ANCHOR BANK
1055 E WAYZATA BLVD EAST
WAYZATA, MN 55391

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812112 - Beauty Salons

Loan Approval Date

3/2/2006

Loan Approval Gross Amount

$502,700

Loan Approval from the SBA

Of the total $502,700 loan amount, the SBA guaranteed $377,025.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help generate 12 new jobs and retain 1 existing job.

Getting an SBA Loan For Your Business

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

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Anchor Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Obtaining Funding From a Venture Capitalist

Small Business Banks in Wayzata, Minnesota

Where to Get an SBA Loan Minnesota