Cosmetology and Barber Schools Bank Loans

With these bank loans for cosmetology and barber schools, the SBA guarantees the lender that the loan will be repaid. This cosmetology and barber schools loan for $25,100 was given to a Virginia entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Arlington, Virginia was able to borrow $25,100 from K Bank. The SBA made the loan possible by guaranteeing $21,335 of this Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SHOPS
ARLINGTON, VA 22204

SBA Loan Lender

K BANK
11407 CRONHILL DR, STE N
OWINGS MILLS, MD 21117

This loan for a small business was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7231 - Beauty Shops

NAICS Code

611511 - Cosmetology and Barber Schools

Loan Approval Date

10/2/2003

Loan Approval Gross Amount

$25,100

Loan Approval from the SBA

Of the total $25,100 loan amount, the SBA guaranteed $21,335.

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 only one employee. This SBA loan request did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you are wondering how to find money to start a business or need money for an existing business, an SBA loan can be a great source of funding.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Financing Your Business

Find an SBA Lender in Owings Mills, Maryland

Where to Get an SBA Loan Maryland