Business Loans for Beauty Salons

Looking for business loans for beauty salons? An SBA loan may be just what you've been looking for. This $30,000 beauty salons loan was issued by a Minnesota bank.

This small business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Home State Bank, out of Litchfield, Minnesota. The loan was granted and they received $30,000 to help grow their Crystal Lake, Illinois business.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
CRYSTAL LAKE, IL 60012

SBA Loan Lender

HOME STATE BANK
1435 E HWY 12
LITCHFIELD, MN 55355

This lender processed this SBA business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

9/19/2003

Loan Approval Gross Amount

$30,000

Loan Approval from the SBA

Of the total $30,000 loan amount, the SBA guaranteed $15,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help retain 2 existing jobs.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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.

Related Links:

Getting a Small Business Loan

Best Banks in Litchfield, Minnesota

Find an SBA Lender in Minnesota