Get an SBA Loan for Beauty Salons

With these small business loans for beauty salons, the SBA guarantees the lender that the loan will be repaid. This beauty salons loan for $130,000 was given to a Texas entrepreneur in 2004.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Austin, Texas was able to borrow $130,000 from American Bank Of Commerce. The SBA made the loan possible by guaranteeing $97,500 of this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
AUSTIN, TX 78750

SBA Loan Lender

AMERICAN BANK OF COMMERCE
W 82ND ST AND US HWY 62/82
WOLFFORTH, TX 79382

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812112 - Beauty Salons

Loan Approval Date

2/2/2004

Loan Approval Gross Amount

$130,000

Loan Approval from the SBA

Of the total $130,000 loan amount, the SBA guaranteed $97,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 10 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 12 existing jobs.

Next Steps for Getting an SBA Loan

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

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from American Bank Of Commerce so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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.

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