How to Get a Loan for Nail Salons

Looking for SBA loans for nail salons? The SBA may be the answer. This $475,000 nail salons loan was issued by a Minnesota bank.

This small business knew how to go about getting a business bank loan. Based in Rochester, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Kasson State Bank, based in Kasson, Minnesota.

SBA Loan Borrower

COMPANY TYPE: NAIL SALONS
ROCHESTER, MN 55901

SBA Loan Lender

KASSON STATE BANK
203 W MAIN ST
KASSON, MN 55944

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812113 - Nail Salons

Loan Approval Date

8/3/2006

Loan Approval Gross Amount

$475,000

Loan Approval from the SBA

Of the total $475,000 loan amount, the SBA guaranteed $356,250.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 6 employees. The SBA loan documents did not indicate that the company planned to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

SBIR Funding

Best Kasson, Minnesota Banks for Small Business

Where to Get an SBA Loan Minnesota