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May 15, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Elk River, Business Loans > The Bank Of Elk River Elk River Business Loans > Beauty Salons Loan | ||||
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Elk River, Minnesota Bank Loan
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Commercial Loans for Beauty SalonsLooking for commercial loans for beauty salons? Talk to a banker who works with the SBA. This $75,000 beauty salons loan was issued by a Minnesota bank. This business knew how to go about getting a business bank loan. Based in Elk River, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was The Bank Of Elk River, based in Elk River, Minnesota. SBA Loan Borrower COMPANY TYPE: BEAUTY SALONS SBA Loan Lender THE BANK OF ELK RIVER 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 812112 - Beauty Salons Loan Approval Date 10/16/2006 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $37,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 1 existing job. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide smart, affordable business financing for small businesses looking to expand. While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: Where to Get an SBA Loan in Elk River, Minnesota
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