SBA Loans for Personal Services

Looking for SBA loans for personal services? An SBA loan may be just what you've been looking for. This $750,000 personal services loan was issued by a New Jersey bank.

This small business knew how to go about getting a business bank loan. Based in New York, New York, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was 1st Constitution Bank, based in Cranbury, New Jersey.

SBA Loan Borrower

COMPANY TYPE: PERSONAL SERVICES
New York, NY 10019

SBA Loan Lender

1ST CONSTITUTION BANK
RTE 130 & DEY RD
CRANBURY, NJ 08512

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812990 - Personal Services

Loan Approval Date

10/3/2006

Loan Approval Gross Amount

$750,000

Loan Approval from the SBA

Of the total $750,000 loan amount, the SBA guaranteed $562,500.

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 29 employees. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 32 existing jobs.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $750,000 loan. Remember, feel the fear, and do it anyway.

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:

Borrowing Money from Friends and Family

Good Banks for Small Business in Cranbury, New Jersey

New Jersey SBA Bank Lenders