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November 15, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Cleveland, Business Loans > Fifth Third Bank Cleveland Business Loans > Beauty Salons Loan | ||||
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Lyndhurst, Ohio Bank for SBA Loans
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Beauty Salons Bank LoansWith these bank loans for beauty salons, the SBA guarantees the lender that the loan will be repaid. This beauty salons loan for $66,500 was given to an Ohio entrepreneur in 2004. This company received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Fifth Third Bank, out of Cleveland, Ohio. The loan was granted and they received $66,500 to help grow their Lyndhurst, Ohio business. SBA Loan Borrower COMPANY TYPE: BEAUTY SALONS SBA Loan Lender FIFTH THIRD BANK This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812112 - Beauty Salons Loan Approval Date 8/24/2004 Loan Approval Gross Amount $66,500 Loan Approval from the SBA Of the total $66,500 loan amount, the SBA guaranteed $56,525. More Information on This SBA Loan The borrower borrowed this money for an existing 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 application for the borrower did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans provide money to small business owners for working capital for other expenses. We've showcased information on this loan to let you know that businesses like yours 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. Related Links: SBA 7A Banks for Cleveland, Ohio Loans Browse All Business Loan Sources for Ohio
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