Getting an SBA Loan for Beauty Salons

Looking for business loans for beauty salons? Talk to a banker who works with the SBA. This $148,500 beauty salons loan was issued by an Illinois bank.

Getting a small business loan in Melrose Park, Illinois was important for this business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Shorebank, operating out of Chicago, Illinois. Here are the details on this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
MELROSE PARK, IL 60160

SBA Loan Lender

SHOREBANK
7054 S JEFFREY AVE
CHICAGO, IL 60649

This lender issued this particular 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.

NAICS Code

812112 - Beauty Salons

Loan Approval Date

12/5/2001

Loan Approval Gross Amount

$148,500

Loan Approval from the SBA

Of the total $148,500 loan amount, the SBA guaranteed $126,225.

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

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

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.

Small Business Banks in Chicago, Illinois

SBA Participating Banks in Illinois