Bank Loans for Custom Computer Programming Services

Looking for bank loans for custom computer programming services? The SBA may be the answer. This $57,500 custom computer programming services loan was issued by a Michigan bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Lansing, Michigan was able to borrow $57,500 from Chemical Bank. The SBA made the loan possible by guaranteeing $48,875 of this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: COMPUTER PROGRAMMING SERVICES
LANSING, MI 48917

SBA Loan Lender

CHEMICAL BANK
100 E MAIN ST
OWOSSO, MI 48867

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7371 - Computer Programming Services

NAICS Code

541511 - Custom Computer Programming Services

Loan Approval Date

1/8/2001

Loan Approval Gross Amount

$57,500

Loan Approval from the SBA

Of the total $57,500 loan amount, the SBA guaranteed $48,875.

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 15 employees. The SBA loan documents did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Chemical Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Chemical Bank 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.

Related Links:

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SBA 7A Banks for Owosso, Michigan Loans

Michigan SBA Bank Lenders