Getting an SBA Loan for Personal Services

With these commercial loans for personal services, the SBA guarantees the lender that the loan will be repaid. This personal services loan for $120,000 was given to a Michigan entrepreneur in 2007.

Getting a small business loan in Marquette, Michigan was important for this business back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Mbank, operating out of Manistique, Michigan. Here are the details on this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: PERSONAL SERVICES
MARQUETTE, MI 49855

SBA Loan Lender

MBANK
130 S CEDAR ST
MANISTIQUE, MI 49854

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide 7A business loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812990 - Personal Services

Loan Approval Date

9/5/2007

Loan Approval Gross Amount

$120,000

Loan Approval from the SBA

Of the total $120,000 loan amount, the SBA guaranteed $102,000.

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 10 employees. The loan application indicated that the loan would help generate 4 new jobs and retain 6 existing jobs.

Getting an SBA Loan For Your Business

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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