Personal Services Business Loans
Looking for business loans for personal services? An SBA loan may be just what you've been looking for. This $32,000 personal services loan was issued by a Minnesota bank.
Getting a small business loan in Eagan, Minnesota was important for this small business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Western Bank, operating out of Minneapolis, Minnesota. Here are the details on this Minnesota small business loan.
SBA Loan Borrower
COMPANY TYPE: PERSONAL SERVICES
EAGAN, MN 55122
SBA Loan Lender
WESTERN BANK
3033 UNIVERSITY AVE
MINNEAPOLIS, MN 55414
This lender issued this particular commercial 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.
SIC Code
7299 - Personal Services
NAICS Code
812990 - Personal Services
Loan Approval Date
6/13/2001
Loan Approval Gross Amount
$32,000
Loan Approval from the SBA
Of the total $32,000 loan amount, the SBA guaranteed $27,200.
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 8 employees. This SBA loan request did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees.
Next Steps for Getting an SBA Loan
Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.
This SBA loan was for $32,000. How would you spend $32,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.
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:
Business Cash Advances
SBA Participating Banks in Minneapolis, Minnesota
SBA Lenders in Minnesota