Getting an SBA Loan for Data Processing Services

Looking for business loans for data processing services? Try the SBA. This $660,000 data processing services loan was issued by a Connecticut bank.

This small business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Union Savings Bank, out of Danbury, Connecticut. The loan was granted and they received $660,000 to help grow their Danbury, Connecticut business.

SBA Loan Borrower

COMPANY TYPE: DATA PROCESSING SERVICES
DANBURY, CT 06810

SBA Loan Lender

UNION SAVINGS BANK
225 MAIN ST
DANBURY, CT 06810

This SBA loan was issued under the SBA's Certified Lenders Program (CLP), which means that the lender has a successful SBA lending background and a deep knowledge SBA policies and procedures.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

514210 - Data Processing Services

Loan Approval Date

3/25/2003

Loan Approval Gross Amount

$660,000

Loan Approval from the SBA

Of the total $660,000 loan amount, the SBA guaranteed $495,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 15 employees. This SBA loan request did not indicate that the business promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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.

Related Links:

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