How to Get a Loan for Beauty Salons

With these commercial loans for beauty salons, the SBA guarantees the lender that the loan will be repaid. This beauty salons loan for $145,000 was given to a Pennsylvania entrepreneur in 2003.

Getting a small business loan in Phoenixville, Pennsylvania was important for this small business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Hsbc Bank Usa, operating out of Buffalo, New York. Here are the details on this Pennsylvania small business loan.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SHOPS
PHOENIXVILLE, PA 19460

SBA Loan Lender

HSBC BANK USA
ONE HSBC CTR
BUFFALO, NY 14203

This lender issued this particular bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

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

4/17/2003

Loan Approval Gross Amount

$145,000

Loan Approval from the SBA

Of the total $145,000 loan amount, the SBA guaranteed $123,250.

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 2 employees. This SBA loan request did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

We can help you find the best banks for small businesses in Phoenixville 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:

Microlending as a Small Business Funding Source

SBA Banks in Buffalo, New York

New York SBA 7A Lenders