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December 19, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Bloomington, Business Loans > Venture Bank Bloomington Business Loans > Beauty Shops Loan | ||||
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Requirements for Business Owners On Getting a Loan
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Nail Salons Commercial LoansLooking for commercial loans for nail salons? The SBA may be the answer. This $150,000 nail salons loan was issued by a Minnesota bank. This small business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Venture Bank, out of Bloomington, Minnesota. The loan was granted and they received $150,000 to help grow their Apple Valley, Minnesota business. SBA Loan Borrower COMPANY TYPE: BEAUTY SHOPS SBA Loan Lender VENTURE BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7231 - Beauty Shops NAICS Code 812113 - Nail Salons Loan Approval Date 11/27/2002 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. 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 13 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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: Best Banks in Bloomington, Minnesota
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