Raising Money for Beauty Salons

Looking for business loans for beauty salons? The SBA may be the answer. This $100,000 beauty salons loan was issued by a Rhode Island bank.

This small business knew how to go about getting a business bank loan. Based in Newtown, Pennsylvania, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Bank Of America, based in Providence, Rhode Island.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
NEWTOWN, PA 18940

SBA Loan Lender

BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903

This SBA loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

8/6/2004

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 95 employees. The SBA loan documents indicated that the loan would help generate 5 new jobs and retain 90 existing jobs.

Next Steps for Getting an SBA Loan

If you need business start up money in Newtown PA, you ought to talk with a local Newtown SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Newtown businesses.

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 Bank Of America 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.

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