Borrowing Money for Beauty Salons

Looking for bank loans for beauty salons? Try the SBA. This $25,000 beauty salons loan was issued by a Pennsylvania bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Mechanicsburg, Pennsylvania was able to borrow $25,000 from Blc Bank. The SBA made the loan possible by guaranteeing $12,500 of this Pennsylvania small business loan.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
MECHANICSBURG, PA 17055

SBA Loan Lender

BLC BANK
2148 MARKET ST
CAMP HILL, PA 17011

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

9/30/2005

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $12,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The SBA loan documents indicated that the funding would help generate 4 new jobs.

Start the Process for Getting an SBA Loan Today!

If you are raising money in Mechanicsburg PA, you ought to talk with a local Mechanicsburg SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Mechanicsburg businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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