Computer Systems Design Services Commercial Loans

With these commercial loans for computer systems design services, the SBA guarantees the lender that the loan will be repaid. This computer systems design services loan for $100,000 was given to a North Carolina entrepreneur in 2008.

This business knew how to go about getting a business bank loan. Based in Morrisville, North Carolina, they applied for and were awarded an SBA-guaranteed loan in 2008. The lending bank was The Fidelity Bank, based in Fuquay Varina, North Carolina.

SBA Loan Borrower

COMPANY TYPE: COMPUTER SYSTEMS DESIGN SERVICES
MORRISVILLE, NC 27560

SBA Loan Lender

THE FIDELITY BANK
100 S MAIN ST
FUQUAY VARINA, NC 27526

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

541512 - Computer Systems Design Services

Loan Approval Date

1/23/2008

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 8 employees. The SBA loan application for the borrower indicated that the loan would help generate 8 new jobs and retain 8 existing jobs.

Getting an SBA Loan For Your Business

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

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

Obtaining Funding - How to Decide How Much to Raise

Best Banks for Small Business in Fuquay Varina, North Carolina

SBA Participating Banks in North Carolina