Business Loans 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 $255,000 was given to a Connecticut entrepreneur in 2006.

This business knew how to go about getting a business bank loan. Based in Farmington, Connecticut, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Rbs Citizens, based in Warwick, Rhode Island.

SBA Loan Borrower

COMPANY TYPE: PERSONAL SERVICES
FARMINGTON, CT 06032

SBA Loan Lender

RBS CITIZENS
800 POST RD
WARWICK, RI 02888

This SBA bank loan was issued under the SBA's Certified Lenders Program (CLP), which means that this lending institution has a successful SBA lending history and are well trained in SBA lending rules and regulations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812990 - Personal Services

Loan Approval Date

10/5/2006

Loan Approval Gross Amount

$255,000

Loan Approval from the SBA

Of the total $255,000 loan amount, the SBA guaranteed $191,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the business promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $255,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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.

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