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December 19, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Upper Sandusky, Business Loans > The Commercial Savings Bank Upper Sandusky Business Loans > Custom Computer Programming Services Loan | ||||
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Examples of Worthington SBA Loans
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Custom Computer Programming Services LoansWith these loans for custom computer programming services, the SBA guarantees the lender that the loan will be repaid. This custom computer programming services loan for $350,000 was given to an Ohio entrepreneur in 2007. This company received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with The Commercial Savings Bank, out of Upper Sandusky, Ohio. The loan was granted and they received $350,000 to help grow their Worthington, Ohio business. SBA Loan Borrower COMPANY TYPE: CUSTOM COMPUTER PROGRAMMING SERVICES SBA Loan Lender THE COMMERCIAL SAVINGS BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 541511 - Custom Computer Programming Services Loan Approval Date 5/18/2007 Loan Approval Gross Amount $350,000 Loan Approval from the SBA Of the total $350,000 loan amount, the SBA guaranteed $175,000. 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 26 employees. The SBA loan documents indicated that the loan would help generate 4 new jobs and retain 22 existing jobs. Getting an SBA Loan For Your Business The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into The Commercial Savings Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Microlending as a Small Business Funding Source
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