Borrowing Money for Beauty Salons

With these loans for beauty salons, the SBA guarantees the lender that the loan will be repaid. This beauty salons loan for $78,200 was given to a Kentucky entrepreneur in 2007.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Louisville, Kentucky was able to borrow $78,200 from 1st Cap. Bank - Kentucky. The SBA made the loan possible by guaranteeing $39,100 of this Kentucky small business loan.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
LOUISVILLE, KY 40222

SBA Loan Lender

1ST CAP. BANK - KENTUCKY
293 N HUBBARDS LN
LOUISVILLE, KY 40207

The lender provided this loan for a small business through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

1/26/2007

Loan Approval Gross Amount

$78,200

Loan Approval from the SBA

Of the total $78,200 loan amount, the SBA guaranteed $39,100.

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 10 employees. The loan application indicated that the loan would help generate 1 new job and retain 10 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into 1st Cap. Bank - Kentucky and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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