Where to Get Capital for Nail Salons
Looking for SBA loans for nail salons? Talk to a banker who works with the SBA. This $85,000 nail salons loan was issued by a North Carolina bank.
This business knew how to go about getting a business bank loan. Based in Whitestone, New York, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Bank Of America, based in Charlotte, North Carolina.
SBA Loan Borrower
COMPANY TYPE: NAIL SALONS
WHITESTONE, NY 11357
SBA Loan Lender
BANK OF AMERICA
100 N TRYON ST
CHARLOTTE, NC 28255
The lender provided this small business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.
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
812113 - Nail Salons
Loan Approval Date
5/30/2006
Loan Approval Gross Amount
$85,000
Loan Approval from the SBA
Of the total $85,000 loan amount, the SBA guaranteed $42,500.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company
had 5 employees. The loan application indicated that the loan would help generate 1 new job and retain 6 existing jobs.
Next Steps for Getting an SBA Loan
SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.
If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Bank Of America so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.
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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