Financing for Nail Salons

Looking for loans for nail salons? Talk to a banker who works with the SBA. This $201,000 nail salons loan was issued by a Michigan bank.

This company knew how to go about getting a business bank loan. Based in Bloomfield, Michigan, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Lasalle Bank Midwest, based in Troy, Michigan.

SBA Loan Borrower

COMPANY TYPE: NAIL SALONS
BLOOMFIELD, MI 48301

SBA Loan Lender

LASALLE BANK MIDWEST
2600 W BIG BEAVER RD
TROY, MI 48084

The lender provided this loan for a small business through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

812113 - Nail Salons

Loan Approval Date

10/17/2005

Loan Approval Gross Amount

$201,000

Loan Approval from the SBA

Of the total $201,000 loan amount, the SBA guaranteed $100,500.

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 19 employees. This SBA loan request indicated that the loan would help generate 20 new jobs and retain 19 existing jobs.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Lasalle Bank Midwest are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Determining Proper Capital Structure for a Business

SBA 7A Banks in Troy, Michigan

Michigan SBA Banks