Getting an SBA Loan for Beauty Salons

With these business loans for beauty salons, the SBA guarantees the lender that the loan will be repaid. This beauty salons loan for $285,600 was given to a Maryland entrepreneur in 2001.

Getting a small business loan in Columbia, Maryland was important for this business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Susquehanna Bank, operating out of Baltimore, Maryland. Here are the details on this Maryland small business loan.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SHOPS
COLUMBIA, MD 21045

SBA Loan Lender

SUSQUEHANNA BANK
100 WEST RD
BALTIMORE, MD 21204

This business loan was issued under the SBA's Certified Lenders Program (CLP), which means that the lender has a successful SBA lending track record and are well trained in SBA lending rules and regulations.

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

5/25/2001

Loan Approval Gross Amount

$285,600

Loan Approval from the SBA

Of the total $285,600 loan amount, the SBA guaranteed $214,200.

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 5 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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 Susquehanna 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.

Related Links:

Obtaining Funding - Getting Venture Capital

SBA Approved Banks in Baltimore, Maryland

Where to Get an SBA Loan Maryland