Raising Money for Data Processing, Hosting, and Related Services

With these business loans for data processing, hosting, and related services, the SBA guarantees the lender that the loan will be repaid. This data processing, hosting, and related services loan for $344,300 was given to a Texas entrepreneur in 2004.

This small business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Compass Bank, out of Birmingham, Alabama. The loan was granted and they received $344,300 to help grow their Dallas, Texas business.

SBA Loan Borrower

COMPANY TYPE: DATA PROCESSING, HOSTING, AND RELATED SERVICES
DALLAS, TX 75252

SBA Loan Lender

COMPASS BANK
15 S 20TH ST
BIRMINGHAM, AL 35233

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

518210 - Data Processing, Hosting, and Related Services

Loan Approval Date

5/25/2004

Loan Approval Gross Amount

$344,300

Loan Approval from the SBA

Of the total $344,300 loan amount, the SBA guaranteed $258,225.

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 6 employees. The SBA loan application for the borrower indicated that the loan would help generate 6 new jobs and retain 6 existing jobs.

Getting an SBA Loan For Your Business

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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