Financing for Beauty Salons

Looking for commercial loans for beauty salons? Try the SBA. This $45,200 beauty salons loan was issued by a Washington bank.

This small business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Frontier Bank, out of Seattle, Washington. The loan was granted and they received $45,200 to help grow their Seattle, Washington business.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
SEATTLE, WA 98107

SBA Loan Lender

FRONTIER BANK
5602 15TH AVE NW
SEATTLE, WA 98107

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812112 - Beauty Salons

Loan Approval Date

7/23/2002

Loan Approval Gross Amount

$45,200

Loan Approval from the SBA

Of the total $45,200 loan amount, the SBA guaranteed $38,420.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 12 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Frontier Bank 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:

SBIR Funding

SBA 7A Banks in Seattle, Washington

Find an SBA Lender in Washington