Getting an SBA Loan for Beauty Salons

Looking for business loans for beauty salons? Try the SBA. This $36,400 beauty salons loan was issued by a Vermont bank.

This business knew how to go about getting a business bank loan. Based in Manchester, Vermont, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Berkshire Bank, based in Manchester Center, Vermont.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SHOPS
MANCHESTER, VT 05255

SBA Loan Lender

BERKSHIRE BANK
4928 MAIN ST
MANCHESTER CENTER, VT 05255

This lender issued this particular bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

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

3/29/2001

Loan Approval Gross Amount

$36,400

Loan Approval from the SBA

Of the total $36,400 loan amount, the SBA guaranteed $30,940.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 2 employees. The SBA loan application for the borrower did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

Small Business Credit Cards

Small Business Banks in Manchester Center, Vermont

SBA Vermont Banks