Nail Salons Bank Loans

With these bank loans for nail salons, the SBA guarantees the lender that the loan will be repaid. This nail salons loan for $120,000 was given to an Arizona entrepreneur in 2001.

This small firm knew how to go about getting a business bank loan. Based in Tucson, Arizona, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Canyon Commun Bank, based in Tucson, Arizona.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SHOPS
TUCSON, AZ 85737

SBA Loan Lender

CANYON COMMUN BANK
7981 N ORACLE RD
TUCSON, AZ 85704

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7231 - Beauty Shops

NAICS Code

812113 - Nail Salons

Loan Approval Date

2/15/2001

Loan Approval Gross Amount

$120,000

Loan Approval from the SBA

Of the total $120,000 loan amount, the SBA guaranteed $102,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

While you may be able to borrow money from friends and family, 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.

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