Commercial Loans for Beauty Salons

With these commercial loans for beauty salons, the SBA guarantees the lender that the loan will be repaid. This beauty salons loan for $835,000 was given to an Iowa entrepreneur in 2007.

This small business knew how to go about getting a business bank loan. Based in Cedar Falls, Iowa, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was First Security State Bank, based in Evansdale, Iowa.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
CEDAR FALLS, IA 50702

SBA Loan Lender

FIRST SECURITY STATE BANK
3600 LAFAYETTE RD
EVANSDALE, IA 50707

This lender issued this business loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812112 - Beauty Salons

Loan Approval Date

6/20/2007

Loan Approval Gross Amount

$835,000

Loan Approval from the SBA

Of the total $835,000 loan amount, the SBA guaranteed $626,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 27 employees. The loan application indicated that the loan would help retain 27 existing jobs.

Getting an SBA Loan For Your Business

If you have been wondering how do i get money to start a business in Cedar Falls IA, you ought to talk with a local Cedar Falls SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Cedar Falls businesses.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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.

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