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November 14, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Newport Beach, Business Loans > Orange County Business Bank Newport Beach Business Loans > Personal Services Loan | ||||
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Tips for Small Businesses On Getting a Loan
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Personal Services Commercial LoansWith these commercial loans for personal services, the SBA guarantees the lender that the loan will be repaid. This personal services loan for $50,000 was given to a California entrepreneur in 2005. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Costa Mesa, California was able to borrow $50,000 from Orange County Business Bank. The SBA made the loan possible by guaranteeing $42,500 of this California small business loan. SBA Loan Borrower COMPANY TYPE: PERSONAL SERVICES SBA Loan Lender ORANGE COUNTY BUSINESS BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812990 - Personal Services Loan Approval Date 8/29/2005 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $42,500. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 2 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Every year, the SBA guarantees over $10 billion for loans just like this one. We've showcased information on this loan to let you know that businesses like yours 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 - Friends and Family Find an SBA Lender in Newport Beach, California
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