Bank Loans for Computer Systems Design Services

With these bank loans for computer systems design services, the SBA guarantees the lender that the loan will be repaid. This computer systems design services loan for $406,000 was given to an Ohio entrepreneur in 2003.

This small firm received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with National City Bank, out of Indianapolis, Indiana. The loan was granted and they received $406,000 to help grow their Brecksville, Ohio business.

SBA Loan Borrower

COMPANY TYPE: COMPUTER SYSTEMS DESIGN SERVICES
BRECKSVILLE, OH 44141

SBA Loan Lender

NATIONAL CITY BANK
101 W WASHINGTON ST # 100 E
INDIANAPOLIS, IN 46255

This lender issued this loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541512 - Computer Systems Design Services

Loan Approval Date

2/21/2003

Loan Approval Gross Amount

$406,000

Loan Approval from the SBA

Of the total $406,000 loan amount, the SBA guaranteed $304,500.

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 7 employees. The SBA loan documents did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like National City Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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