How to Get a Loan for Personal Services

With these business 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 a Michigan entrepreneur in 2008.

This business received financial assistance through the SBA's lending programs back in 2008. They applied for an SBA loan with Commerce Bank, out of Philadelphia, Pennsylvania. The loan was granted and they received $100,000 to help grow their Sterling Heights, Michigan business.

SBA Loan Borrower

COMPANY TYPE: PERSONAL SERVICES
Sterling Heights, MI 48314

SBA Loan Lender

COMMERCE BANK
2005 MARKET ST
PHILADELPHIA, PA 19103

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

1/31/2008

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 3 employees. The loan application indicated that the loan would help retain 3 existing jobs.

Getting an SBA Loan For Your Business

If you have been wondering how do i get money to start a business in Sterling Heights MI, you ought to talk with a local Sterling Heights SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Sterling Heights businesses.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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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