How to Get a Loan for Beauty Salons
With these business loans for beauty salons, the SBA guarantees the lender that the loan will be repaid. This beauty salons loan for $95,000 was given to a Connecticut entrepreneur in 2000.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in South Norwalk, Connecticut was able to borrow $95,000 from Bank Of America. The SBA made the loan possible by guaranteeing $47,500 of this Connecticut small business loan.
SBA Loan Borrower
COMPANY TYPE: BEAUTY SHOPS
SOUTH NORWALK, CT 06854
SBA Loan Lender
BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903
The lender provided this business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.
SBA Loan Program Type
This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.
SIC Code
7231 - Beauty Shops
NAICS Code
812112 - Beauty Salons
Loan Approval Date
8/8/2000
Loan Approval Gross Amount
$95,000
Loan Approval from the SBA
Of the total $95,000 loan amount, the SBA guaranteed $47,500.
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 4 employees. The SBA loan documents indicated that the borrowed money would help create 2 new jobs.
Great, But How Can I Get an SBA Loan for My Business?
For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.
While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.
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:
Business Line of Credit
Good Banks for Small Business in Providence, Rhode Island
Getting a Business Loan in Rhode Island