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November 14, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > Temecula, Business Loans > Temecula Valley Bank Temecula Business Loans > Beauty Shops Loan | ||||
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Temecula Valley Bank Loans
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Getting an SBA Loan for Beauty SalonsLooking for commercial loans for beauty salons? The SBA may be the answer. This $88,000 beauty salons loan was issued by a California bank. This small business received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Temecula Valley Bank, out of Temecula, California. The loan was granted and they received $88,000 to help grow their Boca Raton, Florida business. SBA Loan Borrower COMPANY TYPE: BEAUTY SHOPS SBA Loan Lender TEMECULA VALLEY BANK 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. SIC Code 7231 - Beauty Shops NAICS Code 812112 - Beauty Salons Loan Approval Date 11/20/2001 Loan Approval Gross Amount $88,000 Loan Approval from the SBA Of the total $88,000 loan amount, the SBA guaranteed $74,800. 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 12 employees. The SBA loan application for the borrower did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: A Company That Helps Entrepreneurs Best Banks in Temecula, California
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