Financing for Computer Related Services

With these commercial loans for computer related services, the SBA guarantees the lender that the loan will be repaid. This computer related services loan for $125,000 was given to a Massachusetts entrepreneur in 2005.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Quincy, Massachusetts was able to borrow $125,000 from The Bank Of Canton. The SBA made the loan possible by guaranteeing $62,500 of this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: COMPUTER RELATED SERVICES
QUINCY, MA 02171

SBA Loan Lender

THE BANK OF CANTON
490 TURNPIKE ST
CANTON, MA 02021

This lender processed this commercial loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

1/3/2005

Loan Approval Gross Amount

$125,000

Loan Approval from the SBA

Of the total $125,000 loan amount, the SBA guaranteed $62,500.

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 15 employees. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 4 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $125,000 loan. Remember, anyone can do it... so why not 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.

Related Links:

The Art of Bootstrapping

SBA Approved Banks in Canton, Massachusetts

Massachusetts SBA Bank Lenders