Getting an SBA Loan for Data Processing, Hosting, and Related Services

Looking for commercial loans for data processing, hosting, and related services? Try the SBA. This $48,000 data processing, hosting, and related services loan was issued by a Montana bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Missoula, Montana was able to borrow $48,000 from First Interstate Bank. The SBA made the loan possible by guaranteeing $40,800 of this Montana small business loan.

SBA Loan Borrower

COMPANY TYPE: DATA PROCESSING, HOSTING, AND RELATED SERVICES
MISSOULA, MT 59801

SBA Loan Lender

FIRST INTERSTATE BANK
401 N 31ST ST
BILLINGS, MT 59101

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.

NAICS Code

518210 - Data Processing, Hosting, and Related Services

Loan Approval Date

3/17/2004

Loan Approval Gross Amount

$48,000

Loan Approval from the SBA

Of the total $48,000 loan amount, the SBA guaranteed $40,800.

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 4 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like First Interstate 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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