Where to Get Capital for Nail Salons

With these SBA loans for nail salons, the SBA guarantees the lender that the loan will be repaid. This nail salons loan for $31,500 was given to a New York entrepreneur in 2002.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Geneva, New York was able to borrow $31,500 from Five Star Bank. The SBA made the loan possible by guaranteeing $26,775 of this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SHOPS
GENEVA, NY 14456

SBA Loan Lender

FIVE STAR BANK
2 SENECA ST
GENEVA, NY 14456

This lender issued this particular SBA bank 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

812113 - Nail Salons

Loan Approval Date

6/14/2002

Loan Approval Gross Amount

$31,500

Loan Approval from the SBA

Of the total $31,500 loan amount, the SBA guaranteed $26,775.

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. This SBA loan request did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

We can help you find the best banks for small businesses in Geneva or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Financing Your Business

Best Banks for Small Business in Geneva, New York

New York SBA 7A Lenders