Bank Loans for Personal Care Services

With these bank loans for personal care services, the SBA guarantees the lender that the loan will be repaid. This personal care services loan for $80,000 was given to an Iowa entrepreneur in 2002.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Cedar Rapids, Iowa was able to borrow $80,000 from Fairfax State Savings Bank. The SBA made the loan possible by guaranteeing $68,000 of this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: PERSONAL CARE SERVICES
CEDAR RAPIDS, IA 52404

SBA Loan Lender

FAIRFAX STATE SAVINGS BANK
409 VANDERBILT
FAIRFAX, IA 52228

This lender issued this particular bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812199 - Personal Care Services

Loan Approval Date

4/29/2002

Loan Approval Gross Amount

$80,000

Loan Approval from the SBA

Of the total $80,000 loan amount, the SBA guaranteed $68,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Fairfax State Savings Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Angel Investors

Small Business Banks in Fairfax, Iowa

Getting a Business Loan in Iowa