Commercial Loans for Beauty Salons

Looking for commercial loans for beauty salons? Try the SBA. This $25,000 beauty salons loan was issued by an Alabama bank.

This business knew how to go about getting a business bank loan. Based in Chandler, Arizona, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Compass Bank, based in Birmingham, Alabama.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
CHANDLER, AZ 85225

SBA Loan Lender

COMPASS BANK
15 S 20TH ST
BIRMINGHAM, AL 35233

The lender provided this bank loan 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

812112 - Beauty Salons

Loan Approval Date

1/4/2007

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $12,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 12 employees. The SBA loan application for the borrower indicated that the loan would help generate 4 new jobs and retain 12 existing jobs.

Next Steps for Getting an SBA Loan

If you are raising money in Chandler AZ, you ought to talk with a local Chandler SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Chandler businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Compass Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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