Financing for Beauty Salons

Looking for loans for beauty salons? Talk to a banker who works with the SBA. This $10,000 beauty salons loan was issued by a Kentucky bank.

This company knew how to go about getting a business bank loan. Based in Paducah, Kentucky, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Fnb Bank, Inc., based in Mayfield, Kentucky.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
PADUCAH, KY 42001

SBA Loan Lender

FNB BANK, INC.
101 E BROADWAY ST
MAYFIELD, KY 42066

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812112 - Beauty Salons

Loan Approval Date

8/18/2004

Loan Approval Gross Amount

$10,000

Loan Approval from the SBA

Of the total $10,000 loan amount, the SBA guaranteed $8,500.

More Information on This SBA Loan

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

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

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 Fnb Bank, Inc. 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.

Related Links:

Obtaining Funding - Friends and Family

Best Banks in Mayfield, Kentucky

Kentucky SBA 7A Lenders