Loans for Personal Services

With these loans for personal services, the SBA guarantees the lender that the loan will be repaid. This personal services loan for $200,000 was given to a California entrepreneur in 2006.

This company knew how to go about getting a business bank loan. Based in Berkeley, California, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was The Mechanics Bank, based in Richmond, California.

SBA Loan Borrower

COMPANY TYPE: PERSONAL SERVICES
BERKELEY, CA 94705

SBA Loan Lender

THE MECHANICS BANK
3170 HILLTOP MALL RD
RICHMOND, CA 94806

This lender processed this SBA bank loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

812990 - Personal Services

Loan Approval Date

10/25/2006

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $100,000.

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 15 employees. The loan application indicated that the loan would help generate 15 new jobs and retain 15 existing jobs.

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

If you are raising money in Berkeley CA, you ought to talk with a local Berkeley SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Berkeley businesses.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan 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 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:

Obtaining Funding - How to Borrow Money

SBA Banks in Richmond, California

Getting an SBA Loan in California