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May 1, 2024 |
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| Home > Small Business Lenders by State > Tennessee Business Loan Sources > Walnut Creek, Business Loans > Superior Financial Group, LLC Walnut Creek Business Loans > Cosmetics, Beauty Supplies, And Perfume Stores Loan | ||||
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SBA 7A Banks for Memphis, Tennessee Small Businesses
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Cosmetics, Beauty Supplies, and Perfume Stores LoansLooking for loans for cosmetics, beauty supplies, and perfume stores? The SBA may be the answer. This $7,500 cosmetics, beauty supplies, and perfume stores loan was issued by a California bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Memphis, Tennessee was able to borrow $7,500 from Superior Financial Group, LLC. The SBA made the loan possible by guaranteeing $6,375 of this Tennessee small business loan. SBA Loan Borrower COMPANY TYPE: COSMETICS, BEAUTY SUPPLIES, AND PERFUME STORES SBA Loan Lender SUPERIOR FINANCIAL GROUP, LLC This SBA bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 446120 - Cosmetics, Beauty Supplies, and Perfume Stores Loan Approval Date 5/14/2007 Loan Approval Gross Amount $7,500 Loan Approval from the SBA Of the total $7,500 loan amount, the SBA guaranteed $6,375. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 5 employees. The loan application indicated that the loan would help generate 15 new jobs and retain 5 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Best Banks for Small Business in Walnut Creek, California Getting an SBA Loan in California
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