Get an SBA Loan for Beauty Salons

With these small business loans for beauty salons, the SBA guarantees the lender that the loan will be repaid. This beauty salons loan for $275,000 was given to a Georgia entrepreneur in 2006.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Norcross, Georgia was able to borrow $275,000 from American United Bank. The SBA made the loan possible by guaranteeing $206,250 of this Georgia small business loan.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
NORCROSS, GA 30092

SBA Loan Lender

AMERICAN UNITED BANK
1888 OLD NORCROSS RD
LAWRENCEVILLE, GA 30044

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide 7A business loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812112 - Beauty Salons

Loan Approval Date

1/30/2006

Loan Approval Gross Amount

$275,000

Loan Approval from the SBA

Of the total $275,000 loan amount, the SBA guaranteed $206,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 10 employees. The SBA loan application for the borrower did not indicate that the business planned to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

If you need money to start a small business or need money for an existing business, an SBA loan can be a great source of funding.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into American United Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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