Personal Care Services Commercial Loans

Looking for commercial loans for personal care services? Try the SBA. This $169,000 personal care services loan was issued by a Minnesota bank.

This business knew how to go about getting a business bank loan. Based in Mankato, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Community Bank Vernon Center, based in Mankato, Minnesota.

SBA Loan Borrower

COMPANY TYPE: PERSONAL CARE SERVICES
MANKATO, MN 56001

SBA Loan Lender

COMMUNITY BANK VERNON CENTER
951 MADISON AVE
MANKATO, MN 56001

This lender issued this small business loan under the SBA's 7(a) guaranteed loan 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

812199 - Personal Care Services

Loan Approval Date

4/8/2003

Loan Approval Gross Amount

$169,000

Loan Approval from the SBA

Of the total $169,000 loan amount, the SBA guaranteed $126,750.

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 3 employees. The SBA loan documents did not indicate that the company planned to use the funding to hire new 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.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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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Banks in Mankato, Minnesota

Getting an SBA Loan in Minnesota