Getting an SBA Loan for Beauty Salons
With these commercial loans for beauty salons, the SBA guarantees the lender that the loan will be repaid. This beauty salons loan for $48,700 was given to a California entrepreneur in 2003.
This small business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Bank Of America, out of Charlotte, North Carolina. The loan was granted and they received $48,700 to help grow their Los Angeles, California business.
SBA Loan Borrower
COMPANY TYPE: BEAUTY SALONS
LOS ANGELES, CA 91355
SBA Loan Lender
BANK OF AMERICA
100 N TRYON ST
CHARLOTTE, NC 28255
This lender processed this small 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
10/24/2003
Loan Approval Gross Amount
$48,700
Loan Approval from the SBA
Of the total $48,700 loan amount, the SBA guaranteed $24,350.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company
had 4 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 4 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
Many small businesses receive loans backed by the U.S. Small Business Administration.
While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.
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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