Illinois Entrepreneur Secures Financing to Buy Hair Saloon Franchise

Need money to purchase a Hair Saloon franchise? The Bank Of Edwardsville has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Hair Saloon franchise requires some effort but others before you have been successful. In 2007, The Bank Of Edwardsville issued an SBA franchise loan to an entrepreneur in Edwardsville, Illinois. Because Hair Saloon was registered with the SBA's registry of franchises, this Illinois small business loan was issued on an expedited basis.

SBA Loan Borrower

HAIR SALOON
EDWARDSVILLE, IL 62025

SBA Loan Lender

THE BANK OF EDWARDSVILLE
330 W VANDALIA
EDWARDSVILLE, IL 62025

This business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812111 - Barber Shops

Loan Approval Date

4/17/2007

Loan Approval Gross Amount

$178,000

Loan Approval from the SBA

Of the total $178,000 loan amount, the SBA guaranteed $133,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Hair Saloon franchise. At the time of the loan, the company had 8 employees. The SBA loan application for the borrower indicated that the borrowed money would help create 8 new jobs.

Next Steps for Getting an SBA Loan

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

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Hair Saloon For Men

Banking Deregulation's Effects on Entrepreneurship

Banks in Edwardsville, Illinois

Getting an SBA Loan in Illinois