Raising Money for Beauty Salons

Looking for business loans for beauty salons? The SBA may be the answer. This $136,700 beauty salons loan was issued by an Indiana bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Hamilton, Indiana was able to borrow $136,700 from Star Financial Bank. The SBA made the loan possible by guaranteeing $68,350 of this Indiana small business loan.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
HAMILTON, IN 46742

SBA Loan Lender

STAR FINANCIAL BANK
127 W BERRY ST
FORT WAYNE, IN 46802

The lender provided this business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

12/22/2006

Loan Approval Gross Amount

$136,700

Loan Approval from the SBA

Of the total $136,700 loan amount, the SBA guaranteed $68,350.

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 6 employees. The SBA loan documents indicated that the loan would help generate 6 new jobs.

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

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Star Financial Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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Getting an SBA Loan in Indiana