Financing for Personal Care Services

With these commercial loans for personal care services, the SBA guarantees the lender that the loan will be repaid. This personal care services loan for $23,800 was given to an Illinois entrepreneur in 2001.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Mattoon, Illinois was able to borrow $23,800 from First Mid-Illinois Bank & Trust. The SBA made the loan possible by guaranteeing $20,230 of this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: PERSONAL SERVICES
MATTOON, IL 61938

SBA Loan Lender

FIRST MID-ILLINOIS BANK & TRUST
500 W LINCOLN ST
CHARLESTON, IL 61920

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

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

3/14/2001

Loan Approval Gross Amount

$23,800

Loan Approval from the SBA

Of the total $23,800 loan amount, the SBA guaranteed $20,230.

More Information on This SBA Loan

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

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

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.

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