Loans for Beauty Salons

With these loans for beauty salons, the SBA guarantees the lender that the loan will be repaid. This beauty salons loan for $100,000 was given to an Indiana entrepreneur in 2001.

This small firm knew how to go about getting a business bank loan. Based in Evansville, Indiana, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Fifth Third Bank, based in Evansville, Indiana.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SHOPS
EVANSVILLE, IN 47712

SBA Loan Lender

FIFTH THIRD BANK
5344 PEARL DR
EVANSVILLE, IN 47712

This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

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

6/11/2001

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

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 4 employees. The loan application did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

If you want money for new small business in Evansville IN, you ought to talk with a local Evansville SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Evansville businesses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Fifth Third Bank 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.

Related Links:

Attracting Investors

SBA Approved Banks in Evansville, Indiana

Getting an SBA Loan in Indiana