Raising Money for Computer Related Services
With these bank loans for computer related services, the SBA guarantees the lender that the loan will be repaid. This computer related services loan for $25,000 was given to an Illinois entrepreneur in 2005.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Chicago, Illinois was able to borrow $25,000 from Business Loan Center, LLC. The SBA made the loan possible by guaranteeing $21,250 of this Illinois small business loan.
SBA Loan Borrower
COMPANY TYPE: COMPUTER RELATED SERVICES
CHICAGO, IL 60606
SBA Loan Lender
BUSINESS LOAN CENTER, LLC
1633 BROADWAY, 39TH FL
NEW YORK, NY 10019
This SBA business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
541519 - Computer Related Services
Loan Approval Date
1/31/2005
Loan Approval Gross Amount
$25,000
Loan Approval from the SBA
Of the total $25,000 loan amount, the SBA guaranteed $21,250.
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 4 employees. This SBA loan request indicated that the loan would help retain 4 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.
The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Business Loan Center, LLC had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Business Loan Center, LLC made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.
The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.
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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