Financing for Personal Care Services

With these loans for personal care services, the SBA guarantees the lender that the loan will be repaid. This personal care services loan for $33,649 was given to a New York entrepreneur in 2007.

This small firm knew how to go about getting a business bank loan. Based in East Aurora, New York, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Bank Of Holland, based in Holland, New York.

SBA Loan Borrower

COMPANY TYPE: PERSONAL CARE SERVICES
EAST AURORA, NY 14080

SBA Loan Lender

BANK OF HOLLAND
12 S MAIN ST
HOLLAND, NY 14080

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide bank loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812199 - Personal Care Services

Loan Approval Date

2/7/2007

Loan Approval Gross Amount

$33,649

Loan Approval from the SBA

Of the total $33,649 loan amount, the SBA guaranteed $28,602.

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 only one employee. The loan application did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

Don't forget. To get an SBA loan, you must 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.

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:

Famous Venture Capitalists

Best Holland, New York Banks for Small Business

Getting an SBA Loan in New York