Where to Get Capital for Beauty Salons

With these small business loans for beauty salons, the SBA guarantees the lender that the loan will be repaid. This beauty salons loan for $64,000 was given to a Massachusetts entrepreneur in 2000.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Marrapoisett, Massachusetts was able to borrow $64,000 from Sovereign Bank. The SBA made the loan possible by guaranteeing $51,200 of this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SHOPS
MARRAPOISETT, MA 02770

SBA Loan Lender

SOVEREIGN BANK
141 N MAIN ST
FALL RIVER, MA 02720

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

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

7/13/2000

Loan Approval Gross Amount

$64,000

Loan Approval from the SBA

Of the total $64,000 loan amount, the SBA guaranteed $51,200.

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 2 employees. The loan application did not indicate that the company planned to use the money to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

We can help you find the best banks for small businesses in Marrapoisett or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Microlending as a Small Business Funding Source

Small Business Banks in Fall River, Massachusetts

Find an SBA Lender in Massachusetts