Beauty Salons SBA Loans

With these SBA loans for beauty salons, the SBA guarantees the lender that the loan will be repaid. This beauty salons loan for $15,300 was given to an Alabama entrepreneur in 2005.

This business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Banktrust, out of Mobile, Alabama. The loan was granted and they received $15,300 to help grow their Daphne, Alabama business.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
DAPHNE, AL 36526

SBA Loan Lender

BANKTRUST
100 ST. JOSEPH ST
MOBILE, AL 36602

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

1/28/2005

Loan Approval Gross Amount

$15,300

Loan Approval from the SBA

Of the total $15,300 loan amount, the SBA guaranteed $7,650.

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 only one employee. The SBA loan application for the borrower indicated that the loan would help retain 1 existing job.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Banktrust are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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