Where to Get Capital for Personal Services
Looking for SBA loans for personal services? Try the SBA. This $263,000 personal services loan was issued by a Texas bank.
Getting a small business loan in Dallas, Texas was important for this business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Comerica Bank, operating out of Houston, Texas. Here are the details on this Texas small business loan.
SBA Loan Borrower
COMPANY TYPE: PERSONAL SERVICES
DALLAS, TX 75231
SBA Loan Lender
COMERICA BANK
1900 W LOOP SOUTH
HOUSTON, TX 77027
Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
812990 - Personal Services
Loan Approval Date
6/5/2003
Loan Approval Gross Amount
$263,000
Loan Approval from the SBA
Of the total $263,000 loan amount, the SBA guaranteed $197,250.
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 2 employees. This SBA loan request indicated that the loan would help retain 2 existing jobs.
Next Steps for Getting an SBA Loan
SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.
While you may be able to find other ways to get money to start a business, 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:
Determining Proper Capital Structure for a Business
Who Lends Money to Small Businesses in Houston, Texas
Getting an SBA Loan in Texas