Raising Money for Beauty Salons

Looking for business loans for beauty salons? An SBA loan may be just what you've been looking for. This $650,000 beauty salons loan was issued by a North Carolina bank.

This small business knew how to go about getting a business bank loan. Based in Charlotte, North Carolina, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Branch Bank & Trust, based in Winston Salem, North Carolina.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
CHARLOTTE, NC 28203

SBA Loan Lender

BRANCH BANK & TRUST
200 W 2ND ST
WINSTON SALEM, NC 27101

When it made this small business loan, this bank was part of the SBA's Certified Lenders Program (CLP). This program is designed to give fast service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812112 - Beauty Salons

Loan Approval Date

4/29/2002

Loan Approval Gross Amount

$650,000

Loan Approval from the SBA

Of the total $650,000 loan amount, the SBA guaranteed $487,500.

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 50 employees. The SBA loan documents did not indicate that the business planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are wondering how to find money to start a business or need money for an existing business, an SBA loan can be a great funding source

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Branch Bank & Trust and they will explain how you can get an SBA loan for your company.

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:

How Equity Dilution Works

SBA Participating Banks in Winston Salem, North Carolina

Getting an SBA Loan in North Carolina