How to Get a Loan for Beauty Salons

With these SBA loans for beauty salons, the SBA guarantees the lender that the loan will be repaid. This beauty salons loan for $150,000 was given to an Oregon entrepreneur in 2001.

Getting a small business loan in Portland, Oregon was important for this small business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Albina Community Bank, operating out of Portland, Oregon. Here are the details on this Oregon small business loan.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
PORTLAND, OR 97209

SBA Loan Lender

ALBINA COMMUNITY BANK
2002 NE MLK JR BLVD
PORTLAND, OR 97212

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812112 - Beauty Salons

Loan Approval Date

9/24/2001

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 24 employees. The loan application did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you need money to start business in Portland OR, you ought to talk with a local Portland SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Portland businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Albina Community Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Small Business Credit Cards

Find an SBA Lender in Portland, Oregon

Oregon SBA 7A Banks