Business Loans 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 $65,500 was given to a Pennsylvania entrepreneur in 2001.
This business knew how to go about getting a business bank loan. Based in Erie, Pennsylvania, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was National City Bank, based in Pittsburgh, Pennsylvania.
SBA Loan Borrower
COMPANY TYPE: PERSONAL SERVICES
ERIE, PA 16504
SBA Loan Lender
NATIONAL CITY BANK
20 STANWIX ST, NATIONAL CITY
PITTSBURGH, PA 15222
This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with borrowing money. 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. 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.
7299 - Personal Services
812990 - Personal Services
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $65,500 loan amount, the SBA guaranteed $55,675.
More Information on This SBA Loan
The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company
had 2 employees. This SBA loan request did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.
While you may be able to borrow money from friends and family, 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.
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