Business Loans for Personal Services

Looking for business loans for personal services? Talk to a banker who works with the SBA. This $113,000 personal services loan was issued by a Michigan bank.

This small business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Mason State Bank, out of Mason, Michigan. The loan was granted and they received $113,000 to help grow their Mason, Michigan business.

SBA Loan Borrower

COMPANY TYPE: PERSONAL SERVICES
MASON, MI 48854

SBA Loan Lender

MASON STATE BANK
322 S JEFFERSON ST
MASON, MI 48854

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812990 - Personal Services

Loan Approval Date

9/16/2005

Loan Approval Gross Amount

$113,000

Loan Approval from the SBA

Of the total $113,000 loan amount, the SBA guaranteed $96,050.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you are interested in getting money to start a business or need money to grow a business, an SBA loan can be a great way to raise money

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Mason State Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Mason State Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Role of Business Plan When Raising Money

SBA Participating Banks in Mason, Michigan

SBA Lenders in Michigan