Business Loans 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 $34,600 was given to a Pennsylvania entrepreneur in 2004.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Temple, Pennsylvania was able to borrow $34,600 from Vist Bank. The SBA made the loan possible by guaranteeing $29,410 of this Pennsylvania small business loan.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
TEMPLE, PA 19560

SBA Loan Lender

VIST BANK
1240 BROADCASTING RD
WYOMISSING, PA 19610

This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program requires 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

812112 - Beauty Salons

Loan Approval Date

5/3/2004

Loan Approval Gross Amount

$34,600

Loan Approval from the SBA

Of the total $34,600 loan amount, the SBA guaranteed $29,410.

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 8 employees. The SBA loan application for the borrower did not indicate that the company planned to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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:

Understanding Dilution

Where to Get an SBA Loan in Wyomissing, Pennsylvania

SBA Pennsylvania Banks