Get an SBA Loan for Beauty Salons

With these bank loans for beauty salons, the SBA guarantees the lender that the loan will be repaid. This beauty salons loan for $60,800 was given to a Tennessee entrepreneur in 2005.

This small firm received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Pinnacle National Bank, out of Nashville, Tennessee. The loan was granted and they received $60,800 to help grow their Brentwood, Tennessee business.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
BRENTWOOD, TN 37219

SBA Loan Lender

PINNACLE NATIONAL BANK
2019 RICHARD JONES RD
NASHVILLE, TN 37215

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812112 - Beauty Salons

Loan Approval Date

8/11/2005

Loan Approval Gross Amount

$60,800

Loan Approval from the SBA

Of the total $60,800 loan amount, the SBA guaranteed $51,680.

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 7 employees. The loan application did not indicate that the company planned to use the money 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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Pinnacle National Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Pinnacle National Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Financing Your Business

SBA Participating Banks in Nashville, Tennessee

Where to Get an SBA Loan Tennessee