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November 15, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Champlin, Business Loans > Access Bank Champlin Business Loans > Beauty Shops Loan | ||||
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Good Banks for Champlin Small Businesses
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Commercial Loans for Beauty SalonsWith these commercial loans for beauty salons, the SBA guarantees the lender that the loan will be repaid. This beauty salons loan for $70,000 was given to a Minnesota entrepreneur in 2002. Getting a small business loan in Champlin, Minnesota was important for this business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Access Bank, operating out of Champlin, Minnesota. Here are the details on this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: BEAUTY SHOPS SBA Loan Lender ACCESS 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 12/3/2002 Loan Approval Gross Amount $70,000 Loan Approval from the SBA Of the total $70,000 loan amount, the SBA guaranteed $59,500. More Information on This SBA Loan The borrower borrowed this money for a new 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 6 employees. This SBA loan request did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. We can help you find the best banks for small businesses in Champlin or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Best Champlin, Minnesota Banks for Small Business
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