Loans for Personal Services

With these loans for personal services, the SBA guarantees the lender that the loan will be repaid. This personal services loan for $570,000 was given to a Texas entrepreneur in 2004.

This company received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Sterling Bank, out of Humble, Texas. The loan was granted and they received $570,000 to help grow their Houston, Texas business.

SBA Loan Borrower

COMPANY TYPE: PERSONAL SERVICES
HOUSTON, TX 77024

SBA Loan Lender

STERLING BANK
8450 FM 1960 BY-PASS RD WEST
HUMBLE, TX 77338

This lender issued this small business loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812990 - Personal Services

Loan Approval Date

9/20/2004

Loan Approval Gross Amount

$570,000

Loan Approval from the SBA

Of the total $570,000 loan amount, the SBA guaranteed $427,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 23 employees. The loan application did not indicate that the company promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $570,000 loan. Remember, fight for what you want, and it will be yours!

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:

How to Raise Money

Banks in Humble, Texas

Texas SBA 7A Lenders