Financing for Computer and Office Machine Repair and Maintenance

With these loans for computer and office machine repair and maintenance, the SBA guarantees the lender that the loan will be repaid. This computer and office machine repair and maintenance loan for $30,000 was given to a Tennessee entrepreneur in 2006.

This small firm received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with First South Bank, out of Jackson, Tennessee. The loan was granted and they received $30,000 to help grow their Jackson, Tennessee business.

SBA Loan Borrower

COMPANY TYPE: COMPUTER AND OFFICE MACHINE REPAIR AND MAINTENANCE
JACKSON, TN 38305

SBA Loan Lender

FIRST SOUTH BANK
1862 HWY 45 BY-PASS
JACKSON, TN 38305

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

811212 - Computer and Office Machine Repair and Maintenance

Loan Approval Date

12/8/2006

Loan Approval Gross Amount

$30,000

Loan Approval from the SBA

Of the total $30,000 loan amount, the SBA guaranteed $15,000.

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 2 employees. The SBA loan application for the borrower indicated that the loan would help retain 2 existing jobs.

Next Steps for Getting an SBA Loan

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.

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 First South 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.

Related Links:

Small Business Loan

Best Banks for Small Business in Jackson, Tennessee

Tennessee SBA Bank Lenders