Small Business Loans for Computer Systems Design Services

With these small business loans for computer systems design services, the SBA guarantees the lender that the loan will be repaid. This computer systems design services loan for $1,111,111 was given to a Massachusetts entrepreneur in 2002.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Melrose, Massachusetts was able to borrow $1,111,111 from Salem Five Cents Savings Bank. The SBA made the loan possible by guaranteeing $1,000,000 of this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: RADIO AND TELEVISION COMMUNICATIONS EQUIPMENT
MELROSE, MA 02176

SBA Loan Lender

SALEM FIVE CENTS SAVINGS BANK
210 ESSEX ST
SALEM, MA 01970

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3663 - Radio and Television Communications Equipment

NAICS Code

541512 - Computer Systems Design Services

Loan Approval Date

9/30/2002

Loan Approval Gross Amount

$1,111,111

Loan Approval from the SBA

Of the total $1,111,111 loan amount, the SBA guaranteed $1,000,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 50 employees. The SBA loan documents did not indicate that the company promised to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide smart, affordable business financing for small businesses looking to expand.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Salem Five Cents Savings Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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