How to Get a Loan for Beauty Salons

Looking for business loans for beauty salons? Try the SBA. This $60,895 beauty salons loan was issued by a Tennessee bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Germantown, Tennessee was able to borrow $60,895 from Suntrust Bank. The SBA made the loan possible by guaranteeing $51,761 of this Tennessee small business loan.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SHOPS
GERMANTOWN, TN 38138

SBA Loan Lender

SUNTRUST BANK
5860 RIDGEWAY CTR PKWY
MEMPHIS, TN 38119

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA loan was issued via the SBA 7a lending program.

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

5/31/2001

Loan Approval Gross Amount

$60,895

Loan Approval from the SBA

Of the total $60,895 loan amount, the SBA guaranteed $51,761.

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

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

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $60,895 loan. Remember, you control your own destiny.

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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