Getting an SBA Loan for Personal Services

Looking for SBA loans for personal services? The SBA may be the answer. This $70,000 personal services loan was issued by a West Virginia bank.

This small business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Wesbanco Bank, Inc., out of Wheeling, West Virginia. The loan was granted and they received $70,000 to help grow their Sardis, Ohio business.

SBA Loan Borrower

COMPANY TYPE: BUSINESS SERVICES
SARDIS, OH 43946

SBA Loan Lender

WESBANCO BANK, INC.
1 BANK PLZ
WHEELING, WV 26003

This lender issued this business loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7389 - Business Services

NAICS Code

812990 - Personal Services

Loan Approval Date

3/11/2003

Loan Approval Gross Amount

$70,000

Loan Approval from the SBA

Of the total $70,000 loan amount, the SBA guaranteed $59,500.

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 2 employees. The SBA loan application for the borrower did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Wesbanco Bank, Inc. so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

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SBA Participating Banks in Wheeling, West Virginia

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