Getting an SBA Loan for Beauty Salons

With these commercial loans for beauty salons, the SBA guarantees the lender that the loan will be repaid. This beauty salons loan for $365,000 was given to an Ohio entrepreneur in 2004.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Lorain, Ohio was able to borrow $365,000 from The Lorain National Bank. The SBA made the loan possible by guaranteeing $273,750 of this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
LORAIN, OH 44053

SBA Loan Lender

THE LORAIN NATIONAL BANK
457 BROADWAY
LORAIN, OH 44052

This SBA loan was issued under the SBA's Certified Lenders Program (CLP), which means that this bank has a successful SBA lending background and a deep knowledge SBA loan requirements.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812112 - Beauty Salons

Loan Approval Date

4/8/2004

Loan Approval Gross Amount

$365,000

Loan Approval from the SBA

Of the total $365,000 loan amount, the SBA guaranteed $273,750.

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 40 employees. The loan application did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans provide smart, affordable business financing for small businesses looking to expand.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

Obtaining Funding - How to Borrow Money

SBA 7A Banks for Lorain, Ohio Loans

SBA Participating Banks in Ohio