How to Get a Loan for Nail Salons

Looking for commercial loans for nail salons? Try the SBA. This $27,300 nail salons loan was issued by a Florida bank.

Getting a small business loan in Punta Gorda, Florida was important for this small business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Charlotte State Bank, operating out of Port Charlotte, Florida. Here are the details on this Florida small business loan.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SHOPS
PUNTA GORDA, FL 33950

SBA Loan Lender

CHARLOTTE STATE BANK
1100 TAMIAMI TRL
PORT CHARLOTTE, FL 33953

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7231 - Beauty Shops

NAICS Code

812113 - Nail Salons

Loan Approval Date

10/22/2001

Loan Approval Gross Amount

$27,300

Loan Approval from the SBA

Of the total $27,300 loan amount, the SBA guaranteed $23,205.

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 3 employees. The loan application did not indicate that the company promised to use the loan proceeds to increase staffing levels 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.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Equity Financing

Where to Get an SBA Loan in Port Charlotte, Florida

SBA Florida Lenders