Getting an SBA Loan for Nail Salons
Looking for SBA loans for nail salons? Talk to a banker who works with the SBA. This $32,400 nail salons loan was issued by a North Carolina bank.
This 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 2002. The lending bank was Bank Of America, based in Charlotte, North Carolina.
SBA Loan Borrower
COMPANY TYPE: NAIL SALONS
PALM DESERT, CA 92260
SBA Loan Lender
BANK OF AMERICA
100 N TRYON ST
CHARLOTTE, NC 28255
This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.
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
812113 - Nail Salons
Loan Approval Date
8/20/2002
Loan Approval Gross Amount
$32,400
Loan Approval from the SBA
Of the total $32,400 loan amount, the SBA guaranteed $16,200.
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 60 employees. This SBA loan request indicated that the loan would help retain 60 existing jobs.
Next Steps for Getting an SBA Loan
Every year, the SBA guarantees over $10 billion for loans just like this one.
We can help you find the best banks for small businesses in Palm Desert or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.
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:
The Art of Bootstrapping
SBA 7A Banks for Charlotte, North Carolina Loans
SBA North Carolina Lenders