Commercial Loans for Computer Systems Design Services

With these commercial loans for computer systems design services, the SBA guarantees the lender that the loan will be repaid. This computer systems design services loan for $660,700 was given to a Michigan entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Commerce, Michigan was able to borrow $660,700 from Comerica Bank. The SBA made the loan possible by guaranteeing $495,525 of this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: COMPUTER SYSTEMS DESIGN SERVICES
COMMERCE, MI 48390

SBA Loan Lender

COMERICA BANK
1717 MAIN
DALLAS, TX 75201

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541512 - Computer Systems Design Services

Loan Approval Date

4/25/2003

Loan Approval Gross Amount

$660,700

Loan Approval from the SBA

Of the total $660,700 loan amount, the SBA guaranteed $495,525.

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 only one employee. The SBA loan application for the borrower indicated that the loan would help retain 1 existing job.

Getting an SBA Loan For Your Business

If you have been wondering how do i get money to start a business in Commerce MI, you ought to talk with a local Commerce SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Commerce businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Comerica Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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