Small Business Loans for Beauty Salons

Looking for small business loans for beauty salons? The SBA may be the answer. This $30,000 beauty salons loan was issued by a Rhode Island bank.

Getting a small business loan in Portsmouth, Rhode Island was important for this growing firm back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Banknewport, operating out of Newport, Rhode Island. Here are the details on this Rhode Island small business loan.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
PORTSMOUTH, RI 02871

SBA Loan Lender

BANKNEWPORT
10 WASHINGTON SQ
NEWPORT, RI 02840

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

812112 - Beauty Salons

Loan Approval Date

11/15/2005

Loan Approval Gross Amount

$30,000

Loan Approval from the SBA

Of the total $30,000 loan amount, the SBA guaranteed $15,000.

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 21 employees. The loan application indicated that the loan would help retain 21 existing jobs.

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

If you are wondering how to raise money for a company in Portsmouth RI, you ought to talk with a local Portsmouth SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Portsmouth businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Banknewport that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

How to Raise Money

Small Business Banks in Newport, Rhode Island

SBA Rhode Island Lenders