Beauty Salons Small Business Loans

Looking for small business loans for beauty salons? Try the SBA. This $76,200 beauty salons loan was issued by a Minnesota bank.

Getting a small business loan in Waseca, Minnesota was important for this growing firm back in 2003 and, based on their loan application, they were successful in getting an SBA loan from First National Bank, operating out of Waseca, Minnesota. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SHOPS
WASECA, MN 56093

SBA Loan Lender

FIRST NATIONAL BANK
101 N STATE ST
WASECA, MN 56093

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7231 - Beauty Shops

NAICS Code

812112 - Beauty Salons

Loan Approval Date

9/22/2003

Loan Approval Gross Amount

$76,200

Loan Approval from the SBA

Of the total $76,200 loan amount, the SBA guaranteed $64,770.

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 20 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like First National Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Direct Public Offerings

Small Business Banks in Waseca, Minnesota

Minnesota SBA Banks