Borrowing Money for Beauty Salons

With these bank loans for beauty salons, the SBA guarantees the lender that the loan will be repaid. This beauty salons loan for $50,000 was given to a New Jersey entrepreneur in 2001.

This small firm knew how to go about getting a business bank loan. Based in Haddon Heights, New Jersey, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Commerce Bank, based in Flemington, New Jersey.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
HADDON HEIGHTS, NJ 08035

SBA Loan Lender

COMMERCE BANK
1 ROYAL RD
FLEMINGTON, NJ 08822

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812112 - Beauty Salons

Loan Approval Date

1/19/2001

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

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 only one employee. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 3 existing jobs.

Start the Process for Getting an SBA Loan Today!

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Commerce Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Determining Proper Capital Structure for a Business

Find an SBA Lender in Flemington, New Jersey

Getting an SBA Loan in New Jersey