How to Get a Loan for Beauty Salons

Looking for SBA loans for beauty salons? The SBA may be the answer. This $40,000 beauty salons loan was issued by a North Carolina bank.

This business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Four Oaks Bank & Trust Company, out of Four Oaks, North Carolina. The loan was granted and they received $40,000 to help grow their Holly Springs, North Carolina business.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SHOPS
HOLLY SPRINGS, NC 27540

SBA Loan Lender

FOUR OAKS BANK & TRUST COMPANY
6114 US HWY 301 SOUTH
FOUR OAKS, NC 27524

This lender issued this particular loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

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

10/22/2002

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $34,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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. This SBA loan request did not indicate that the company promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $40,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

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