Business Loans for Personal Services

Looking for business loans for personal services? Talk to a banker who works with the SBA. This $34,050 personal services loan was issued by an Idaho bank.

This business received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Keybank National Association, out of Boise, Idaho. The loan was granted and they received $34,050 to help grow their Dayton, Ohio business.

SBA Loan Borrower

COMPANY TYPE: BUSINESS SERVICES
DAYTON, OH 45417

SBA Loan Lender

KEYBANK NATIONAL ASSOCIATION
702 W IDAHO ST
BOISE, ID 83702

This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7389 - Business Services

NAICS Code

812990 - Personal Services

Loan Approval Date

9/28/2001

Loan Approval Gross Amount

$34,050

Loan Approval from the SBA

Of the total $34,050 loan amount, the SBA guaranteed $28,942.

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 3 employees. This SBA loan request did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Keybank National Association are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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