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November 15, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Waterloo, Business Loans > Community National Bank Waterloo Business Loans > Beauty Salons Loan | ||||
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Tips for Entrepreneurs On Getting a Loan
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Getting an SBA Loan for Beauty SalonsLooking for commercial loans for beauty salons? The SBA may be the answer. This $65,000 beauty salons loan was issued by an Iowa bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Waterloo, Iowa was able to borrow $65,000 from Community National Bank. The SBA made the loan possible by guaranteeing $32,500 of this Iowa small business loan. SBA Loan Borrower COMPANY TYPE: BEAUTY SALONS SBA Loan Lender COMMUNITY NATIONAL BANK This loan for a small business was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 812112 - Beauty Salons Loan Approval Date 3/24/2006 Loan Approval Gross Amount $65,000 Loan Approval from the SBA Of the total $65,000 loan amount, the SBA guaranteed $32,500. 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 5 employees. The SBA loan application for the borrower indicated that the loan would help generate 4 new jobs and retain 4 existing jobs. Start the Process for Getting an SBA Loan Today! Remember, 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. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Community National Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: SBA 7A Lenders in Waterloo, Iowa
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