How to Get a Loan for Beauty Salons

Looking for SBA loans for beauty salons? The SBA may be the answer. This $30,900 beauty salons loan was issued by a Texas bank.

Getting a small business loan in El Paso, Texas was important for this small business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Gecu, operating out of El Paso, Texas. Here are the details on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
EL PASO, TX 79936

SBA Loan Lender

GECU
7227 VISCOUNT BLVD
EL PASO, TX 79925

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

6/2/2005

Loan Approval Gross Amount

$30,900

Loan Approval from the SBA

Of the total $30,900 loan amount, the SBA guaranteed $15,450.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. 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 can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Gecu had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Gecu made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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