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November 15, 2024 |
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| Home > Small Business Lenders by State > Colorado Business Loan Sources > Salt Lake City, Business Loans > Bank Of The West Salt Lake City Business Loans > Beauty Salons Loan | ||||
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Colorado Small Business Funding
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Beauty Salons LoansWith these loans for beauty salons, the SBA guarantees the lender that the loan will be repaid. This beauty salons loan for $185,000 was given to a Colorado entrepreneur in 2001. Getting a small business loan in Trinidad, Colorado was important for this company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Bank Of The West, operating out of Salt Lake City, Utah. Here are the details on this Colorado small business loan. SBA Loan Borrower COMPANY TYPE: BEAUTY SALONS SBA Loan Lender BANK OF THE WEST 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 12/28/2001 Loan Approval Gross Amount $185,000 Loan Approval from the SBA Of the total $185,000 loan amount, the SBA guaranteed $138,750. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help generate 4 new jobs and retain 2 existing jobs. Getting an SBA Loan For Your Business SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $185,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: Dealing With Venture Capitalists SBA Participating Banks in Salt Lake City, Utah
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