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November 15, 2024 |
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| Home > Small Business Lenders by State > Business Loan Sources > San Juan, Business Loans > Citibank San Juan Business Loans > Beauty Salons Loan | ||||
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How Hard Is It to Get a Small Business Loan in Juncos, ?
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Borrowing Money for Beauty SalonsLooking for small business loans for beauty salons? The SBA may be the answer. This $20,000 beauty salons loan was issued by a bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Juncos, was able to borrow $20,000 from Citibank. The SBA made the loan possible by guaranteeing $10,000 of this small business loan. SBA Loan Borrower COMPANY TYPE: BEAUTY SALONS SBA Loan Lender CITIBANK This lender processed this business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. 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 6/22/2007 Loan Approval Gross Amount $20,000 Loan Approval from the SBA Of the total $20,000 loan amount, the SBA guaranteed $10,000. 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 5 employees. This SBA loan request indicated that the loan would help retain 5 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Citibank 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: Raising VC Money for Social Networking Companies
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