Business Loan from Oak Hill Banks Given to Beauty Salons Company

An SBA loan from Oak Hill Banks typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Proctorville, Ohio business owner got a $59,760 loan.

This growing company knew how to go about getting a business bank loan. Based in Proctorville, Ohio, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was Oak Hill Banks, based in Jackson, Ohio.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
PROCTORVILLE, OH 45645

SBA Loan Lender

OAK HILL BANKS
120 TWIN OAKS DR
JACKSON, OH 45640

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812112 - Beauty Salons

Loan Approval Date

6/23/2004

Loan Approval Gross Amount

$59,760

Loan Approval from the SBA

Of the total $59,760 loan amount, the SBA guaranteed $50,796.

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 3 employees. The SBA loan application for the borrower did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

This SBA loan was for $59,760. How would you spend $59,760 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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