Beauty Salons Loans

With these loans for beauty salons, the SBA guarantees the lender that the loan will be repaid. This beauty salons loan for $51,255 was given to an Illinois entrepreneur in 2004.

This small firm received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Jpmorgan Chase Bank, out of Houston, Texas. The loan was granted and they received $51,255 to help grow their Cicero, Illinois business.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
CICERO, IL 60804

SBA Loan Lender

JPMORGAN CHASE BANK
811 RUSK ST., 16TH FL
HOUSTON, TX 77002

The lender provided this SBA loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

4/7/2004

Loan Approval Gross Amount

$51,255

Loan Approval from the SBA

Of the total $51,255 loan amount, the SBA guaranteed $25,627.

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 2 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 1 existing job.

Getting an SBA Loan For Your Business

If you are working on finding money to start a business in Cicero IL, you ought to talk with a local Cicero SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Cicero businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Jpmorgan Chase Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Financing Your Business

Small Bank Loans in Houston, Texas

Texas SBA Bank Lenders