Personal Services Commercial Loans

With these commercial loans for personal services, the SBA guarantees the lender that the loan will be repaid. This personal services loan for $100,000 was given to an Arkansas entrepreneur in 2005.

This small business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Community 1st National Bank - W. Pla, out of West Plains, Missouri. The loan was granted and they received $100,000 to help grow their Mountain Home, Arkansas business.

SBA Loan Borrower

COMPANY TYPE: PERSONAL SERVICES
MOUNTAIN HOME, AR 72653

SBA Loan Lender

COMMUNITY 1ST NATIONAL BANK - W. PLA
1330 SOUTHERN HILLS CTR
WEST PLAINS, MO 65775

This lender issued this particular loan for a small business under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812990 - Personal Services

Loan Approval Date

3/24/2005

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 4 employees. The SBA loan application for the borrower did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Community 1st National Bank - W. Pla had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Community 1st National Bank - W. Pla 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.

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