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November 15, 2024 |
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| Home > Small Business Lenders by State > Delaware Business Loan Sources > Wilmington, Business Loans > Wilmington Savings Fund Societ Wilmington Business Loans > Data Processing Schools Loan | ||||
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Wilmington, Delaware SBA Banks
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Wilmington, Delaware Bank Lends Money to Data Processing Schools Company in Wilmington, DelawareA Wilmington, Delaware small business loan can be yours. Learn how a company got a $135,000 business loan from this Delaware bank. This loan to an entrepreneur is a good example of an SBA loan. Wilmington Savings Fund Societ made the loan and the SBA guaranteed a portion of the loan. Many other Delaware entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: DATA PROCESSING SCHOOLS SBA Loan Lender WILMINGTON SAVINGS FUND SOCIET This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 8243 - Data Processing Schools NAICS Code 611420 - Computer Training Loan Approval Date 7/11/2001 Loan Approval Gross Amount $135,000 Loan Approval from the SBA Of the total $135,000 loan amount, the SBA guaranteed $114,750. 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 only one employee. The SBA loan application for the borrower did not indicate that the small business promised to use the money to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Don't apply for a loan directly with the SBA. You need to 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. Wilmington Savings Fund Societ had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Wilmington Savings Fund Societ 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: SBA Approved Banks in Wilmington, Delaware
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