Small Business Loans for Beauty Salons

Looking for small business loans for beauty salons? Try the SBA. This $10,000 beauty salons loan was issued by a New York bank.

Getting a small business loan in Babylon, New York was important for this company back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Suffolk Cnty National Bank - Riverh, operating out of Riverhead, New York. Here are the details on this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
BABYLON, NY 11702

SBA Loan Lender

SUFFOLK CNTY NATIONAL BANK - RIVERH
4 W 2ND ST
RIVERHEAD, NY 11901

This debt financing was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

812112 - Beauty Salons

Loan Approval Date

5/7/2007

Loan Approval Gross Amount

$10,000

Loan Approval from the SBA

Of the total $10,000 loan amount, the SBA guaranteed $5,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower indicated that the loan would help retain 5 existing jobs.

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

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Suffolk Cnty National Bank - Riverh and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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