SBA Loans for Data Processing Services

With these SBA loans for data processing services, the SBA guarantees the lender that the loan will be repaid. This data processing services loan for $100,000 was given to a Virginia entrepreneur in 2000.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Alexandria, Virginia was able to borrow $100,000 from Virginia Commerce Bank. The SBA made the loan possible by guaranteeing $80,000 of this Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: COMPUTER RELATED SERVICES
ALEXANDRIA, VA 22314

SBA Loan Lender

VIRGINIA COMMERCE BANK
5350 LEE HWY
ARLINGTON, VA 22207

This lender issued this particular debt financing under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7379 - Computer Related Services

NAICS Code

514210 - Data Processing Services

Loan Approval Date

11/13/2000

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $80,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 40 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your 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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