Financing for Beauty Salons

Looking for loans for beauty salons? An SBA loan may be just what you've been looking for. This $12,600 beauty salons loan was issued by a New Hampshire bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Derry, New Hampshire was able to borrow $12,600 from Ocean Bank. The SBA made the loan possible by guaranteeing $10,710 of this New Hampshire small business loan.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
DERRY, NH 03038

SBA Loan Lender

OCEAN BANK
325 STATE ST
PORTSMOUTH, NH 03801

This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812112 - Beauty Salons

Loan Approval Date

4/6/2005

Loan Approval Gross Amount

$12,600

Loan Approval from the SBA

Of the total $12,600 loan amount, the SBA guaranteed $10,710.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 9 employees. The loan application did not indicate that the small business planned to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Ocean Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Ocean Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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