Get an SBA Loan for Beauty Salons

Looking for small business loans for beauty salons? An SBA loan may be just what you've been looking for. This $289,000 beauty salons loan was issued by a Wisconsin bank.

This small firm received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with First Bank Financial Centre, out of Oconomowoc, Wisconsin. The loan was granted and they received $289,000 to help grow their Oconomowoc, Wisconsin business.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
OCONOMOWOC, WI 53066

SBA Loan Lender

FIRST BANK FINANCIAL CENTRE
155 W WISCONSIN AVE
OCONOMOWOC, WI 53066

This lender provides SBA loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812112 - Beauty Salons

Loan Approval Date

2/16/2006

Loan Approval Gross Amount

$289,000

Loan Approval from the SBA

Of the total $289,000 loan amount, the SBA guaranteed $216,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. The SBA loan application for the borrower indicated that the loan would help generate 13 new jobs and retain 19 existing jobs.

Next Steps for Getting an SBA Loan

If you need money to start a small business or already have a business and need money to expand, an SBA loan can be a great source of funding.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Alternative Financing

SBA 7A Banks in Oconomowoc, Wisconsin

Wisconsin SBA 7A Lenders