Loans for Nail Salons

With these loans for nail salons, the SBA guarantees the lender that the loan will be repaid. This nail salons loan for $200,000 was given to a New York entrepreneur in 2007.

This company knew how to go about getting a business bank loan. Based in Port Washington, New York, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Newbank, based in New York City, New York.

SBA Loan Borrower

COMPANY TYPE: NAIL SALONS
PORT WASHINGTON, NY 11050

SBA Loan Lender

NEWBANK
146-01 NORTHERN BLVD
NEW YORK CITY, NY 11354

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812113 - Nail Salons

Loan Approval Date

7/2/2007

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $150,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 7 employees. The loan application indicated that the borrowed money would help generate 7 new jobs.

Great, But How Can I Get an SBA Loan for My Business?

Many small businesses receive loans backed by the U.S. Small Business Administration.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Newbank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Newbank 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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