Getting an SBA Loan for Beauty Salons

With these commercial loans for beauty salons, the SBA guarantees the lender that the loan will be repaid. This beauty salons loan for $71,000 was given to a Kansas entrepreneur in 2007.

This business knew how to go about getting a business bank loan. Based in Great Bend, Kansas, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Community Bank Of The Midwest, based in Great Bend, Kansas.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
GREAT BEND, KS 67530

SBA Loan Lender

COMMUNITY BANK OF THE MIDWEST
2220 BROADWAY
GREAT BEND, KS 67530

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

11/16/2007

Loan Approval Gross Amount

$71,000

Loan Approval from the SBA

Of the total $71,000 loan amount, the SBA guaranteed $35,500.

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. The SBA loan application for the borrower indicated that the loan would help retain 1 existing job.

Start the Process for Getting an SBA Loan Today!

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Community Bank Of The Midwest had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Community Bank Of The Midwest 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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