How to Get a Loan for Beauty Salons

With these business loans for beauty salons, the SBA guarantees the lender that the loan will be repaid. This beauty salons loan for $26,200 was given to a Missouri entrepreneur in 2004.

Getting a small business loan in Lebanon, Missouri was important for this small business back in 2004 and, based on their loan application, they were successful in getting an SBA loan from First Home Savings Bank, operating out of Mountain Grove, Missouri. Here are the details on this Missouri small business loan.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SHOPS
LEBANON, MO 65536

SBA Loan Lender

FIRST HOME SAVINGS BANK
142 E 1ST ST
MOUNTAIN GROVE, MO 65711

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA business loans to to our country's hard-working small business owners.

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

6/22/2004

Loan Approval Gross Amount

$26,200

Loan Approval from the SBA

Of the total $26,200 loan amount, the SBA guaranteed $22,270.

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

Getting an SBA Loan For Your 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.

This SBA loan was for $26,200. How would you spend $26,200 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Obtaining Funding - Friends and Family

Best Banks for Small Business in Mountain Grove, Missouri

Getting an SBA Loan in Missouri