Raising Money for Beauty Salons

Looking for business loans for beauty salons? The SBA may be the answer. This $117,300 beauty salons loan was issued by an Utah bank.

This small business knew how to go about getting a business bank loan. Based in Fruita, Colorado, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Bank Of The West, based in Salt Lake City, Utah.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
FRUITA, CO 81621

SBA Loan Lender

BANK OF THE WEST
142 EAST 200 SOUTH
SALT LAKE CITY, UT 84111

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812112 - Beauty Salons

Loan Approval Date

5/29/2003

Loan Approval Gross Amount

$117,300

Loan Approval from the SBA

Of the total $117,300 loan amount, the SBA guaranteed $99,705.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan documents did not indicate that the business promised to use the money to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Every year, the SBA guarantees over $10 billion for loans just like this one.

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer 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:

Advice on Getting a Small Business Loan

SBA 7A Banks in Salt Lake City, Utah

SBA Participating Banks in Utah