Business Loans for Beauty Salons

Looking for business loans for beauty salons? Try the SBA. This $40,400 beauty salons loan was issued by an Illinois bank.

This small business knew how to go about getting a business bank loan. Based in Hutsonville, Illinois, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Farmers & Merchants Bank - Hutso, based in Hutsonville, Illinois.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SHOPS
HUTSONVILLE, IL 62433

SBA Loan Lender

FARMERS & MERCHANTS BANK - HUTSO
108 S MAIN ST
HUTSONVILLE, IL 62433

This small business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

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

1/11/2007

Loan Approval Gross Amount

$40,400

Loan Approval from the SBA

Of the total $40,400 loan amount, the SBA guaranteed $34,340.

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 3 employees. The SBA loan documents did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

We can help you find the best banks for small businesses in Hutsonville or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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