Beauty Salons Bank Loans

Looking for bank loans for beauty salons? Talk to a banker who works with the SBA. This $114,500 beauty salons loan was issued by a Wisconsin bank.

This company knew how to go about getting a business bank loan. Based in Lake Geneva, Wisconsin, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Investors Community Bank, based in Manitowoc, Wisconsin.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
LAKE GENEVA, WI 53147

SBA Loan Lender

INVESTORS COMMUNITY BANK
860 N RAPIDS RD
MANITOWOC, WI 54220

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812112 - Beauty Salons

Loan Approval Date

10/17/2005

Loan Approval Gross Amount

$114,500

Loan Approval from the SBA

Of the total $114,500 loan amount, the SBA guaranteed $85,875.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help generate 20 new jobs and retain 2 existing jobs.

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

If you need money to start a small business or need money to grow a business, an SBA loan can be a great way to raise money

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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Wisconsin SBA Bank Lenders