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November 25, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Fort Lee, Business Loans > Bnb Bank, National Association Fort Lee Business Loans > Beauty Salons Loan | ||||
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Advice for Small Business Owners On Getting a Loan
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Beauty Salons Commercial LoansWith these commercial 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 New York entrepreneur in 2004. This small business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Bnb Bank, National Association, out of Fort Lee, New Jersey. The loan was granted and they received $150,000 to help grow their New York, New York business. SBA Loan Borrower COMPANY TYPE: BEAUTY SALONS SBA Loan Lender BNB BANK, NATIONAL ASSOCIATION Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812112 - Beauty Salons Loan Approval Date 5/19/2004 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. More Information on This SBA Loan The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 8 employees. The loan application indicated that the loan would help generate 8 new jobs and retain 8 existing jobs. Getting an SBA Loan For Your Business Every year, the SBA guarantees over $10 billion for loans just like this one. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $150,000 loan. Remember, you control your own destiny. 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: Best Banks for Small Business in Fort Lee, New Jersey Find an SBA Lender in New Jersey
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