Borrowing Money 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 $32,000 was given to an Utah entrepreneur in 2002.

This small firm knew how to go about getting a business bank loan. Based in Hurricane, Utah, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was State Bank Of Southern Utah, based in Saint George, Utah.

SBA Loan Borrower

COMPANY TYPE: PERSONAL SERVICES
HURRICANE, UT 84737

SBA Loan Lender

STATE BANK OF SOUTHERN UTAH
395 E ST GEORGE BLVD
SAINT GEORGE, UT 84771

This lender issued this particular commercial loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812990 - Personal Services

Loan Approval Date

1/29/2002

Loan Approval Gross Amount

$32,000

Loan Approval from the SBA

Of the total $32,000 loan amount, the SBA guaranteed $27,200.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan documents did not indicate that the business planned to use the money to hire new employees or retain any existing employees.

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

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Alternative Financing

SBA Participating Banks in Saint George, Utah

Utah SBA Bank Lenders