Business Loans for Personal Services

Looking for business loans for personal services? Talk to a banker who works with the SBA. This $58,000 personal services loan was issued by a Wisconsin bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Beloit, Wisconsin was able to borrow $58,000 from 1st National Bank & Trust. The SBA made the loan possible by guaranteeing $49,300 of this Wisconsin small business loan.

SBA Loan Borrower

COMPANY TYPE: SERVICES
BELOIT, WI 53511

SBA Loan Lender

1ST NATIONAL BANK & TRUST
345 E GRAND AVE
BELOIT, WI 53512

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide debt financing to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8999 - Services

NAICS Code

812990 - Personal Services

Loan Approval Date

2/2/2007

Loan Approval Gross Amount

$58,000

Loan Approval from the SBA

Of the total $58,000 loan amount, the SBA guaranteed $49,300.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. This SBA loan request did not indicate that the company planned to use the money to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

Every year, the SBA guarantees over $10 billion for loans just like this one.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into 1st National Bank & Trust and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Getting a Small Business Loan

Small Bank Loans in Beloit, Wisconsin

Wisconsin SBA Banks