How to Get a Loan for Personal Services

With these business loans for personal services, the SBA guarantees the lender that the loan will be repaid. This personal services loan for $136,000 was given to an Illinois entrepreneur in 2001.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Edwardsville, Illinois was able to borrow $136,000 from Associated Bank. The SBA made the loan possible by guaranteeing $115,600 of this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: PERSONAL SERVICES
EDWARDSVILLE, IL 62025

SBA Loan Lender

ASSOCIATED BANK
1 JUNCTION DR WEST
GLEN CARBON, IL 62034

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

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

9/11/2001

Loan Approval Gross Amount

$136,000

Loan Approval from the SBA

Of the total $136,000 loan amount, the SBA guaranteed $115,600.

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 3 employees. The SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Associated Bank and they will explain how you can get an SBA loan for your company.

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:

Small Business Credit Cards

SBA 7A Banks for Glen Carbon, Illinois Loans

SBA Lenders in Illinois