Beauty Salons SBA Loans

With these SBA loans for beauty salons, the SBA guarantees the lender that the loan will be repaid. This beauty salons loan for $135,595 was given to a California entrepreneur in 2000.

This small business knew how to go about getting a business bank loan. Based in Palm Desert, California, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Palm Desert National Bank, based in Palm Desert, California.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SHOPS
PALM DESERT, CA 92260

SBA Loan Lender

PALM DESERT NATIONAL BANK
73-745 EL PASEO
PALM DESERT, CA 92260

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide commercial loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7231 - Beauty Shops

NAICS Code

812112 - Beauty Salons

Loan Approval Date

8/15/2000

Loan Approval Gross Amount

$135,595

Loan Approval from the SBA

Of the total $135,595 loan amount, the SBA guaranteed $101,696.

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 33 employees. The SBA loan documents did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Palm Desert National Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Palm Desert National 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.

Related Links:

Banking Deregulation's Effects on Entrepreneurship

Best Banks in Palm Desert, California

SBA California Banks