Raising Money for Beauty Salons

Looking for bank loans for beauty salons? An SBA loan may be just what you've been looking for. This $25,000 beauty salons loan was issued by a Kentucky bank.

This small firm received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Commonwealth Bank & Trust, out of Louisville, Kentucky. The loan was granted and they received $25,000 to help grow their Shelbyville, Kentucky business.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
SHELBYVILLE, KY 40065

SBA Loan Lender

COMMONWEALTH BANK & TRUST
4350 BROWNSBORO RD, STE 310
LOUISVILLE, KY 40207

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

8/20/2007

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $12,500.

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 application for the borrower indicated that the loan would help create 6 new jobs.

Next Steps for Getting an SBA Loan

If you are wondering how to find money to start a business or already have a business and need money to expand, an SBA loan can be a great source of funding.

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

The Friends and Family Network

SBA Participating Banks in Louisville, Kentucky

Getting an SBA Loan in Kentucky