Getting an SBA 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 $45,000 was given to a West Virginia entrepreneur in 2003.

This business knew how to go about getting a business bank loan. Based in Vienna, West Virginia, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Community Bank Of Parkersburg, based in Parkersburg, West Virginia.

SBA Loan Borrower

COMPANY TYPE: PERSONAL SERVICES
VIENNA, WV 26105

SBA Loan Lender

COMMUNITY BANK OF PARKERSBURG
631 JULIANA ST
PARKERSBURG, WV 26101

This lender issued this particular SBA small business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7299 - Personal Services

NAICS Code

812990 - Personal Services

Loan Approval Date

4/8/2003

Loan Approval Gross Amount

$45,000

Loan Approval from the SBA

Of the total $45,000 loan amount, the SBA guaranteed $38,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a business in Vienna WV, you ought to talk with a local Vienna SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Vienna businesses.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Community Bank Of Parkersburg 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:

Dealing With Venture Capitalists

Find an SBA Lender in Parkersburg, West Virginia

West Virginia SBA Bank Lenders