Where to Get Capital for Barber Shops
With these SBA loans for barber shops, the SBA guarantees the lender that the loan will be repaid. This barber shops loan for $25,000 was given to a New Jersey entrepreneur in 2000.
This business knew how to go about getting a business bank loan. Based in Lakehurst, New Jersey, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Commerce Bank, based in Toms River, New Jersey.
SBA Loan Borrower
COMPANY TYPE: BARBER SHOPS
LAKEHURST, NJ 08733
SBA Loan Lender
COMMERCE BANK
1101 HOOPER AVE
TOMS RIVER, NJ 08753
This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.
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
812111 - Barber Shops
Loan Approval Date
12/7/2000
Loan Approval Gross Amount
$25,000
Loan Approval from the SBA
Of the total $25,000 loan amount, the SBA guaranteed $12,500.
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 3 employees. The SBA loan documents indicated that the borrowed money would help create 3 new jobs.
Getting an SBA Loan For Your Business
SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.
This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.
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:
How Equity Dilution Works
Banks in Toms River, New Jersey
SBA Participating Banks in New Jersey