Loan to Buy Hair Color Express Franchise Issued By First National Bank - St. Louis

Borrowing money to buy a Hair Color Express franchise? First National Bank - St. Louis has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Ballwin, Missouri needed money to invest in a Hair Color Express franchise back in 2003. First National Bank - St. Louis issued an SBA franchise loan. Here are the details on this Missouri small business loan.

SBA Loan Borrower

HCX
BALLWIN, MO 63011

SBA Loan Lender

FIRST NATIONAL BANK - ST. LOUIS
12230 MANCHESTER RD
DES PERES, MO 63131

This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812112 - Beauty Salons

Loan Approval Date

6/11/2003

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. This loan was used to buy a Hair Color Express franchise. At the time of the loan, the company had 12 employees. This SBA loan request did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you are wondering how to raise money for a business in Ballwin MO, you ought to talk with a local Ballwin SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Ballwin businesses.

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 First National Bank - St. Louis 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.

Related Links:

Business Line of Credit

Small Bank Loans in Des Peres, Missouri

Getting an SBA Loan in Missouri