Financing for Beauty Salons

With these loans for beauty salons, the SBA guarantees the lender that the loan will be repaid. This beauty salons loan for $12,000 was given to a Montana entrepreneur in 2005.

Getting a small business loan in Billings, Montana was important for this company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Yellowstone Bank, operating out of Laurel, Montana. Here are the details on this Montana small business loan.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
BILLINGS, MT 59101

SBA Loan Lender

YELLOWSTONE BANK
12 1ST AVE
LAUREL, MT 59044

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.

NAICS Code

812112 - Beauty Salons

Loan Approval Date

4/18/2005

Loan Approval Gross Amount

$12,000

Loan Approval from the SBA

Of the total $12,000 loan amount, the SBA guaranteed $10,200.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The loan application did not indicate that the company promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

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 Yellowstone Bank 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:

Obtaining Funding From a Venture Capitalist

SBA Approved Banks in Laurel, Montana

SBA Lenders in Montana