Borrowing Money for Beauty Salons

Looking for loans for beauty salons? An SBA loan may be just what you've been looking for. This $67,000 beauty salons loan was issued by a Wisconsin bank.

This small firm knew how to go about getting a business bank loan. Based in Milwaukee, Wisconsin, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Bank Mutual, based in Milwaukee, Wisconsin.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
MILWAUKEE, WI 53210

SBA Loan Lender

BANK MUTUAL
4949 W BROWN DEER RD
MILWAUKEE, WI 53223

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

8/27/2004

Loan Approval Gross Amount

$67,000

Loan Approval from the SBA

Of the total $67,000 loan amount, the SBA guaranteed $33,500.

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 3 employees. This SBA loan request indicated that the loan would help generate 3 new jobs and retain 3 existing jobs.

Next Steps for Getting an SBA Loan

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.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Bank Mutual are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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:

Bank Credit Lines

Small Bank Loans in Milwaukee, Wisconsin

SBA Wisconsin Lenders