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May 4, 2024 |
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| Home > Small Business Lenders by State > Wisconsin Business Loan Sources > Bloomington, Business Loans > Guaranty Bank Bloomington Business Loans > Beauty Salons Loan | ||||
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Guaranty Bank Small Business Loan
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Raising Money for Beauty SalonsLooking for business loans for beauty salons? Try the SBA. This $75,000 beauty salons loan was issued by a Minnesota bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Milwaukee, Wisconsin was able to borrow $75,000 from Guaranty Bank. The SBA made the loan possible by guaranteeing $63,750 of this Wisconsin small business loan. SBA Loan Borrower COMPANY TYPE: BEAUTY SALONS SBA Loan Lender GUARANTY BANK This lender issued this bank loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812112 - Beauty Salons Loan Approval Date 8/2/2007 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $63,750. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. This SBA loan request indicated that the loan would help generate 4 new jobs and retain 2 existing jobs. Getting an SBA Loan For Your Business Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. We can help you find the best banks for small businesses in Milwaukee or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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 in Bloomington, Minnesota Getting an SBA Loan in Minnesota
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