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May 16, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Indianapolis, Business Loans > National City Bank Indianapolis Business Loans > Beauty Shops Loan | ||||
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Raising Money in Euclid, Ohio With SBA Loans
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Borrowing Money for Beauty SalonsLooking for small business loans for beauty salons? An SBA loan may be just what you've been looking for. This $135,000 beauty salons loan was issued by an Indiana bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Euclid, Ohio was able to borrow $135,000 from National City Bank. The SBA made the loan possible by guaranteeing $114,750 of this Ohio small business loan. SBA Loan Borrower COMPANY TYPE: BEAUTY SHOPS SBA Loan Lender NATIONAL CITY BANK This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7231 - Beauty Shops NAICS Code 812112 - Beauty Salons Loan Approval Date 2/21/2002 Loan Approval Gross Amount $135,000 Loan Approval from the SBA Of the total $135,000 loan amount, the SBA guaranteed $114,750. 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 9 employees. The loan application did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. National City Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, National City Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Microlending as a Small Business Funding Source Who Lends Money to Small Businesses in Indianapolis, Indiana Where to Get an SBA Loan Indiana
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