Salon Studio Nails & Spa LLC
Salon Studio Nails & Spa LLC is a nail salon in Owens Cross Roads, Alabama, identified under NAICS code 812113 (Nail Salons). The business was approved for an SBA 504 loan of $2,942,000, which financed real estate or equipment through an SBA 504 loan, with SmartBank as the lending bank and Southern Development Council as the certified development company. The loan was approved on August 2, 2024, and the project is associated with 22 jobs.
SBA 504 loan, approved Aug 2, 2024
$2,942,000 SBA portionCDC: Southern Development Council25 years termStatus not reported (SBA exemption)Loan details
- SBA (CDC) portion
- $2,942,000
- Bank portion
- $3,813,750
- Estimated project size
- $7,506,389 (estimated)
- Estimated owner equity
- $750,639 (estimated, about 10% of the project)
- Bank lender
- SmartBank, Pigeon Forge, TN
- Processing method
- Accredited Lenders Program: CDC with an expedited SBA review
- Term
- 25 years (300 months)
- Estimated maturity
- August 2, 2049 (estimated, approval date plus term)
- First disbursement
- Aug 12, 2026
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 22
- Business type
- Corporation
- NAICS
- 812113, Nail Salons
- Project location
- Madison County, AL
- SBA district office
- Alabama District Office
- Congressional district
- AL-5
- Collateral
- Yes
Estimated share of project by source
Bank 51% SBA (CDC) 39% Owner 10%
- Average expansion loan in Nail Salons: $1,716,333.
- Average expansion loan in Alabama: $2,182,891.
Loan amounts are the SBA approval, not a purchase price. Figures labeled estimated are derived on this site and are not published by the SBA.
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