Getting an SBA Loan for Beauty Salons

Looking for commercial loans for beauty salons? An SBA loan may be just what you've been looking for. This $119,000 beauty salons loan was issued by a Texas bank.

This business knew how to go about getting a business bank loan. Based in Waller, Texas, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Sterling Bank, based in Houston, Texas.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
WALLER, TX 77484

SBA Loan Lender

STERLING BANK
2550 N LOOP WEST
HOUSTON, TX 77092

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

5/18/2006

Loan Approval Gross Amount

$119,000

Loan Approval from the SBA

Of the total $119,000 loan amount, the SBA guaranteed $101,150.

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 create 3 new jobs.

Getting an SBA Loan For Your Business

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

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 Sterling Bank 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.

Related Links:

504 Loans

Find an SBA Lender in Houston, Texas

Find an SBA Lender in Texas