Ego Trip Salon, Inc. Gets a Florida Small Business Loan

Florida small business loans are available to Florida small business owners through the SBA. In this case, a Florida bank provides the loan.

Ego Trip Salon, Inc., based in Miami Beach, Florida, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Republic Federal Bank. We've got the inside scoop on this Florida small business loan.

SBA Loan Borrower

EGO TRIP SALON, INC.
1623 MICHIGAN AVE
MIAMI BEACH, FL 33139

SBA Loan Lender

REPUBLIC FEDERAL BANK
8600 NW 36TH ST, STE 800
MIAMI, FL 33166

This lender issued this commercial loan under the SBA's 7A loan, 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.

SIC Code

7231 - Beauty Shops

NAICS Code

812112 - Beauty Salons

Loan Approval Date

10/31/2001

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

More Information on This SBA Loan

The borrower, Ego Trip Salon, 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 10 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees. This loan was paid in full, and was closed out on 1/31/2007.

Great, But How Can I Get an SBA Loan for My Business?

If you need money to start a small business or need money to grow a business, an SBA loan can be a great way to raise money

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Republic Federal Bank and they will explain how you can get an SBA loan for your company.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's SBA loan database.

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