Beauty Salons SBA Loans

With these SBA loans for beauty salons, the SBA guarantees the lender that the loan will be repaid. This beauty salons loan for $150,000 was given to a Minnesota entrepreneur in 2000.

This business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Highland Bank, out of Minneapolis, Minnesota. The loan was granted and they received $150,000 to help grow their Minneapolis, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SHOPS
MINNEAPOLIS, MN 55403

SBA Loan Lender

HIGHLAND BANK
811 LASALLE AVE
MINNEAPOLIS, MN 55402

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

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

9/11/2000

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $112,500.

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 20 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

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.

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