How to Get a Loan for Personal Care Services

With these SBA loans for personal care services, the SBA guarantees the lender that the loan will be repaid. This personal care services loan for $121,000 was given to a North Dakota entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Bismarck, North Dakota was able to borrow $121,000 from American Bank Center First. The SBA made the loan possible by guaranteeing $90,750 of this North Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: PERSONAL CARE SERVICES
BISMARCK, ND 58504

SBA Loan Lender

AMERICAN BANK CENTER FIRST
320 N 4TH ST
BISMARCK, ND 58501

This lender provides SBA business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812199 - Personal Care Services

Loan Approval Date

6/4/2003

Loan Approval Gross Amount

$121,000

Loan Approval from the SBA

Of the total $121,000 loan amount, the SBA guaranteed $90,750.

More Information on This SBA Loan

The borrower 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 32 employees. The loan application indicated that the loan would help generate 8 new jobs and retain 8 existing jobs.

Getting an SBA Loan For Your Business

SBA loans provide smart, affordable business financing for small businesses looking to expand.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

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Where to Get an SBA Loan in Bismarck, North Dakota

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