Personal Care Services Small Business Loans

With these small business loans for personal care services, the SBA guarantees the lender that the loan will be repaid. This personal care services loan for $37,000 was given to an Oklahoma entrepreneur in 2002.

This company knew how to go about getting a business bank loan. Based in Tuttle, Oklahoma, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Chickasha Bank & Trust Company, based in Blanchard, Oklahoma.

SBA Loan Borrower

COMPANY TYPE: PERSONAL CARE SERVICES
TUTTLE, OK 73089

SBA Loan Lender

CHICKASHA BANK & TRUST COMPANY
1502 N COUNCIL RD
BLANCHARD, OK 73010

This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with appliying for an SBA loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812199 - Personal Care Services

Loan Approval Date

5/23/2002

Loan Approval Gross Amount

$37,000

Loan Approval from the SBA

Of the total $37,000 loan amount, the SBA guaranteed $31,450.

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 documents did not indicate that the SBA funding recipient promised to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Chickasha Bank & Trust Company had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Chickasha Bank & Trust Company made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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 7A Banks for Blanchard, Oklahoma Loans

SBA Oklahoma Lenders