Getting an SBA Loan for Custom Computer Programming Services

With these business loans for custom computer programming services, the SBA guarantees the lender that the loan will be repaid. This custom computer programming services loan for $125,000 was given to a Washington entrepreneur in 2004.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Seattle, Washington was able to borrow $125,000 from Seattle Economic Devel Fund Db. The SBA made the loan possible by guaranteeing $106,250 of this Washington small business loan.

SBA Loan Borrower

COMPANY TYPE: CUSTOM COMPUTER PROGRAMMING SERVICES
SEATTLE, WA 98105

SBA Loan Lender

SEATTLE ECONOMIC DEVEL FUND DB
1437 SOUTH JACKSON, SUITE 302
SEATTLE, WA 98144

This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541511 - Custom Computer Programming Services

Loan Approval Date

11/30/2004

Loan Approval Gross Amount

$125,000

Loan Approval from the SBA

Of the total $125,000 loan amount, the SBA guaranteed $106,250.

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 17 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Don't forget. To get an SBA loan, you must 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 important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Seattle Economic Devel Fund Db had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Seattle Economic Devel Fund Db 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:

Getting a Small Business Loan

SBA Approved Banks in Seattle, Washington

Washington SBA Bank Lenders