Business Loans for Personal Care Services

With these business loans for personal care services, the SBA guarantees the lender that the loan will be repaid. This personal care services loan for $139,300 was given to a Florida entrepreneur in 2002.

This small business knew how to go about getting a business bank loan. Based in Indian Shores, Florida, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Regions Bank, based in Birmingham, Alabama.

SBA Loan Borrower

COMPANY TYPE: PERSONAL SERVICES
INDIAN SHORES, FL 33785

SBA Loan Lender

REGIONS BANK
250 RIVERCHASE PKWY E RCS-1 B
BIRMINGHAM, AL 35244

This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring 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

812199 - Personal Care Services

Loan Approval Date

9/6/2002

Loan Approval Gross Amount

$139,300

Loan Approval from the SBA

Of the total $139,300 loan amount, the SBA guaranteed $118,405.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The loan application did not indicate that the small business promised to use the loan proceeds to hire new 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.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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SBA Approved Banks in Birmingham, Alabama

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