Raising Money for Beauty Salons

With these business loans for beauty salons, the SBA guarantees the lender that the loan will be repaid. This beauty salons loan for $40,000 was given to a New York entrepreneur in 2007.

Getting a small business loan in Newfane, New York was important for this small business back in 2007 and, based on their loan application, they were successful in getting an SBA loan from First Niagara Bank, operating out of Lockport, New York. Here are the details on this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
NEWFANE, NY 14108

SBA Loan Lender

FIRST NIAGARA BANK
6950 S TRANSIT RD
LOCKPORT, NY 14094

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

9/24/2007

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $20,000.

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 5 employees. The loan application indicated that the loan would help retain 5 existing jobs.

Start the Process for Getting an SBA Loan Today!

If you are raising money in Newfane NY, you ought to talk with a local Newfane SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Newfane businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First Niagara Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First Niagara Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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