Loans for Custom Computer Programming Services

Looking for loans for custom computer programming services? Try the SBA. This $100,000 custom computer programming services loan was issued by a Maryland bank.

Getting a small business loan in Rockville, Maryland was important for this growing firm back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Eaglebank, operating out of Bethesda, Maryland. Here are the details on this Maryland small business loan.

SBA Loan Borrower

COMPANY TYPE: COMPUTER PROGRAMMING SERVICES
ROCKVILLE, MD 20852

SBA Loan Lender

EAGLEBANK
7815 WOODMONT AVE
BETHESDA, MD 20814

This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7371 - Computer Programming Services

NAICS Code

541511 - Custom Computer Programming Services

Loan Approval Date

5/20/2003

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. The SBA loan documents did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

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

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

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