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May 10, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Villanova, Business Loans > Sovereign Bank Villanova Business Loans > Beauty Salons Loan | ||||
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Tips for Small Businesses On Getting a Loan
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Beauty Salons Commercial LoansWith these commercial loans for beauty salons, the SBA guarantees the lender that the loan will be repaid. This beauty salons loan for $16,000 was given to a New Jersey entrepreneur in 2007. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Asbury Park, New Jersey was able to borrow $16,000 from Sovereign Bank. The SBA made the loan possible by guaranteeing $8,000 of this New Jersey small business loan. SBA Loan Borrower COMPANY TYPE: BEAUTY SALONS SBA Loan Lender SOVEREIGN BANK This lender processed this SBA 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 10/22/2007 Loan Approval Gross Amount $16,000 Loan Approval from the SBA Of the total $16,000 loan amount, the SBA guaranteed $8,000. 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 7 employees. The SBA loan application for the borrower indicated that the loan would help retain 7 existing jobs. Getting an SBA Loan For Your Business SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $16,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: A Company That Helps Entrepreneurs Best Villanova, Pennsylvania Banks for Small Business
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