Raising Money for Computer Related Services
With these business loans for computer related services, the SBA guarantees the lender that the loan will be repaid. This computer related services loan for $30,000 was given to a New Jersey entrepreneur in 2004.
This business knew how to go about getting a business bank loan. Based in Middletown, New Jersey, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Citibank, based in New York City, New York.
SBA Loan Borrower
COMPANY TYPE: COMPUTER RELATED SERVICES
MIDDLETOWN, NJ 07748
SBA Loan Lender
CITIBANK
1 COURT SQ
NEW YORK CITY, NY 11120
The lender provided this loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.
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
541519 - Computer Related Services
Loan Approval Date
11/22/2004
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 an existing business. This loan was not for a franchise. At the time of the loan, the company
had 4 employees. The loan application indicated that the loan would help generate 1 new job and retain 4 existing jobs.
Getting an SBA Loan For Your Business
Remember, 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.
The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Citibank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.
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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