Financing for Beauty Salons

Looking for commercial loans for beauty salons? The SBA may be the answer. This $50,000 beauty salons loan was issued by a Montana bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Missoula, Montana was able to borrow $50,000 from Community Bank-Missoula, Inc.. The SBA made the loan possible by guaranteeing $42,500 of this Montana small business loan.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
MISSOULA, MT 59804

SBA Loan Lender

COMMUNITY BANK-MISSOULA, INC.
3010 AMERICAN WAY
MISSOULA, MT 59808

This lender issued this particular commercial 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

5/8/2002

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Community Bank-Missoula, Inc. and they will explain how you can get an SBA loan for your company.

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:

Obtaining Funding - How to Borrow Money

Small Business Banks in Missoula, Montana

Getting a Business Loan in Montana