Where to Get Capital for Personal Services

With these SBA loans for personal services, the SBA guarantees the lender that the loan will be repaid. This personal services loan for $182,000 was given to a Minnesota entrepreneur in 2008.

This business received financial assistance through the SBA's lending programs back in 2008. They applied for an SBA loan with Highland Bank, out of Maple Grove, Minnesota. The loan was granted and they received $182,000 to help grow their Minneapolis, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: PERSONAL SERVICES
Minneapolis, MN 55407

SBA Loan Lender

HIGHLAND BANK
13370 GROVE DR
MAPLE GROVE, MN 55369

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

2/8/2008

Loan Approval Gross Amount

$182,000

Loan Approval from the SBA

Of the total $182,000 loan amount, the SBA guaranteed $136,500.

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 4 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 6 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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.

Related Links:

Small Business Credit Cards

SBA 7A Banks for Maple Grove, Minnesota Loans

Minnesota SBA Banks