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| Entrepreneur Resources | Compass Bank Birmingham Business Loans | ||||
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Tips for Small Business Owners On Getting a Loan
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Beauty Salons Small Business LoansLooking for small business loans for beauty salons? The SBA may be the answer. This $25,000 beauty salons loan was issued by an Alabama bank.
Hayes Salon Management Inc knew how to go about getting a business bank loan. Based in Austin, Texas, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Compass Bank, based in Birmingham, Alabama. SBA Loan Borrower HAYES SALON MANAGEMENT INC SBA Loan Lender COMPASS BANK This loan for a small business was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours. 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 1/26/2007 Loan Approval Gross Amount $25,000 Loan Approval from the SBA Of the total $25,000 loan amount, the SBA guaranteed $12,500. More Information on This SBA Loan The borrower, Hayes Salon Management Inc, 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 12 employees. The SBA loan documents indicated that the loan would help generate 10 new jobs and retain 12 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan to Hayes Salon Management Inc shows that any business with ambition and the right qualifications can get an SBA loan. About This SBA Loan Information: All SBA loan data displayed above comes from the government's SBA loan database. Related Links: Find an SBA Lender in Birmingham, Alabama If you are an ambitious entrepreneur or an aspiring executive looking to get involved with a startup, please take the time to learn more about Gaebler Ventures.
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