Get an SBA Loan for Barber Shops

Looking for bank loans for barber shops? An SBA loan may be just what you've been looking for. This $150,000 barber shops loan was issued by an Arkansas bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Springdale, Arkansas was able to borrow $150,000 from First Security Bank. The SBA made the loan possible by guaranteeing $127,500 of this Arkansas small business loan.

SBA Loan Borrower

COMPANY TYPE: BARBER SHOPS
SPRINGDALE, AR 72764

SBA Loan Lender

FIRST SECURITY BANK
314 N SPRING
SEARCY, AR 72143

This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812111 - Barber Shops

Loan Approval Date

9/24/2004

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 7 employees. This SBA loan request did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like First Security Bank and they will explain how you can get an SBA loan for your company.

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 Incubators

Small Business Banks in Searcy, Arkansas

Arkansas SBA 7A Banks