Where to Get Capital for Beauty Salons

Looking for small business loans for beauty salons? The SBA may be the answer. This $115,000 beauty salons loan was issued by a Minnesota bank.

Getting a small business loan in Minneapolis, Minnesota was important for this growing firm back in 2008 and, based on their loan application, they were successful in getting an SBA loan from Citizens Independent Bank, operating out of Saint Louis Park, Minnesota. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
MINNEAPOLIS, MN 55408

SBA Loan Lender

CITIZENS INDEPENDENT BANK
5000 W 36TH ST
SAINT LOUIS PARK, MN 55416

The lender provided this bank loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

2/6/2008

Loan Approval Gross Amount

$115,000

Loan Approval from the SBA

Of the total $115,000 loan amount, the SBA guaranteed $57,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 15 employees. The SBA loan application for the borrower indicated that the loan would help retain 15 existing jobs.

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

SBA loans provide money to small business owners for working capital for other expenses.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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.

Related Links:

504 Loans

SBA Banks in Saint Louis Park, Minnesota

Getting an SBA Loan in Minnesota