Small Business Loans for Personal Services

With these small business loans for personal services, the SBA guarantees the lender that the loan will be repaid. This personal services loan for $38,000 was given to a Maryland entrepreneur in 2001.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Huntingtown, Maryland was able to borrow $38,000 from Maryland Bank & Trust Natl. The SBA made the loan possible by guaranteeing $32,300 of this Maryland small business loan.

SBA Loan Borrower

COMPANY TYPE: PERSONAL SERVICES
HUNTINGTOWN, MD 20639

SBA Loan Lender

MARYLAND BANK & TRUST NATL
46930 SHANGRI-LA DR
LEXINGTON PARK, MD 20653

This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

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

5/18/2001

Loan Approval Gross Amount

$38,000

Loan Approval from the SBA

Of the total $38,000 loan amount, the SBA guaranteed $32,300.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

This SBA loan was for $38,000. How would you spend $38,000 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:

Obtaining Funding From a Venture Capitalist

Where to Get an SBA Loan in Lexington Park, Maryland

Maryland SBA 7A Lenders