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 $193,300 was given to a Virginia entrepreneur in 2007.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Locust Grove (locustgrove), Virginia was able to borrow $193,300 from Banco Popular North America. The SBA made the loan possible by guaranteeing $144,975 of this Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
LOCUST GROVE (LOCUSTGROVE), VA 22508

SBA Loan Lender

BANCO POPULAR NORTH AMERICA
7 W 51ST ST, BETWEEN 5TH & 6T
NEW YORK CITY, NY 10019

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812112 - Beauty Salons

Loan Approval Date

12/28/2007

Loan Approval Gross Amount

$193,300

Loan Approval from the SBA

Of the total $193,300 loan amount, the SBA guaranteed $144,975.

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 10 employees. The SBA loan documents indicated that the loan would help retain 10 existing jobs.

Start the Process for Getting an SBA Loan Today!

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Banco Popular North America and they will explain how you can get an SBA loan for your company.

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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