Beauty Salons Loans

Looking for loans for beauty salons? The SBA may be the answer. This $20,000 beauty salons loan was issued by a New York bank.

This small firm knew how to go about getting a business bank loan. Based in Greenwich, New York, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Td Banknorth, based in Glens Falls, New York.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
GREENWICH, NY 12834

SBA Loan Lender

TD BANKNORTH
237 GLEN ST
GLENS FALLS, NY 12801

This lender provides SBA guaranteed business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812112 - Beauty Salons

Loan Approval Date

11/30/2000

Loan Approval Gross Amount

$20,000

Loan Approval from the SBA

Of the total $20,000 loan amount, the SBA guaranteed $16,000.

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 2 employees. The SBA loan documents indicated that the funding would help create 1 new job.

Next Steps for Getting an SBA Loan

If you are raising money in Greenwich NY, you ought to talk with a local Greenwich SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Greenwich businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Role of Business Plan When Raising Money

Best Glens Falls, New York Banks for Small Business

Getting an SBA Loan in New York