Borrowing Money for Beauty Salons

Looking for loans for beauty salons? The SBA may be the answer. This $96,500 beauty salons loan was issued by an Iowa bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Iowa City, Iowa was able to borrow $96,500 from West Bank. The SBA made the loan possible by guaranteeing $82,025 of this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
IOWA CITY, IA 52240

SBA Loan Lender

WEST BANK
229 S DUBUQUE ST
IOWA CITY, IA 52240

This lender issued this SBA loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812112 - Beauty Salons

Loan Approval Date

5/8/2003

Loan Approval Gross Amount

$96,500

Loan Approval from the SBA

Of the total $96,500 loan amount, the SBA guaranteed $82,025.

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 7 employees. The SBA loan documents did not indicate that the business promised to use the money to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you need money to start business in Iowa City IA, you ought to talk with a local Iowa City SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Iowa City businesses.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Understanding Dilution

Small Business Banks in Iowa City, Iowa

Iowa SBA Bank Lenders