Financing for Beauty Salons

Looking for commercial loans for beauty salons? An SBA loan may be just what you've been looking for. This $721,300 beauty salons loan was issued by a Texas bank.

This business knew how to go about getting a business bank loan. Based in San Antonio, Texas, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Security Service Fcu, based in San Antonio, Texas.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
San Antonio, TX 78258

SBA Loan Lender

SECURITY SERVICE FCU
16211 LA CANTERA PKWY
SAN ANTONIO, TX 78256

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812112 - Beauty Salons

Loan Approval Date

10/15/2007

Loan Approval Gross Amount

$721,300

Loan Approval from the SBA

Of the total $721,300 loan amount, the SBA guaranteed $540,975.

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 58 employees. This SBA loan request indicated that the loan would help generate 30 new jobs and retain 58 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Security Service Fcu and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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.

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