Borrowing Money for Personal Services

With these loans for personal services, the SBA guarantees the lender that the loan will be repaid. This personal services loan for $150,000 was given to a Wyoming entrepreneur in 2007.

This small firm knew how to go about getting a business bank loan. Based in Rawlins, Wyoming, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Webbank, based in Salt Lake City, Utah.

SBA Loan Borrower

COMPANY TYPE: PERSONAL SERVICES
RAWLINS, WY 82301

SBA Loan Lender

WEBBANK
6440 S WASATCH BLVD, STE 300
SALT LAKE CITY, UT 84121

This lender provides SBA small business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812990 - Personal Services

Loan Approval Date

11/5/2007

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help retain 1 existing job.

Start the Process for Getting an SBA Loan Today!

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

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