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November 24, 2024 |
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| Home > Small Business Lenders by State > Maryland Business Loan Sources > Winston Salem, Business Loans > Branch Bank & Trust Winston Salem Business Loans > Personal Services Loan | ||||
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Advice for Entrepreneurs On Getting a Loan
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Financing for Personal ServicesWith these commercial loans for personal services, the SBA guarantees the lender that the loan will be repaid. This personal services loan for $120,000 was given to a Maryland entrepreneur in 2006. This business knew how to go about getting a business bank loan. Based in Sunderland, Maryland, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Branch Bank & Trust, based in Winston Salem, North Carolina. SBA Loan Borrower COMPANY TYPE: PERSONAL SERVICES SBA Loan Lender BRANCH BANK & TRUST The lender provided this SBA bank loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 812990 - Personal Services Loan Approval Date 11/8/2006 Loan Approval Gross Amount $120,000 Loan Approval from the SBA Of the total $120,000 loan amount, the SBA guaranteed $60,000. 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. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 2 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Many small businesses receive loans backed by the U.S. Small Business Administration. We can help you find the best banks for small businesses in Sunderland or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Best Winston Salem, North Carolina Banks for Small Business
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