Small Business Loans for Beauty Salons

With these small business loans for beauty salons, the SBA guarantees the lender that the loan will be repaid. This beauty salons loan for $24,400 was given to a Minnesota entrepreneur in 2007.

This company knew how to go about getting a business bank loan. Based in Worthington, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was First State Bank Southwest, based in Pipestone, Minnesota.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
WORTHINGTON, MN 56155

SBA Loan Lender

FIRST STATE BANK SOUTHWEST
202 2ND AVE SE
PIPESTONE, MN 56164

This lender processed this SBA business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

6/8/2007

Loan Approval Gross Amount

$24,400

Loan Approval from the SBA

Of the total $24,400 loan amount, the SBA guaranteed $12,200.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 1 existing job.

Start the Process for Getting an SBA Loan Today!

SBA loans provide money to small business owners for working capital for other expenses.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from First State Bank Southwest so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Small Business Credit Cards

SBA 7A Banks in Pipestone, Minnesota

Getting a Business Loan in Minnesota