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May 17, 2024 |
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| Home > Small Business Lenders by State > North Dakota Business Loan Sources > Rugby, Business Loans > Merchants Bank Rugby Business Loans > Custom Computer Programming Services Loan | ||||
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I Need an SBA Loan in Bismarck, North Dakota
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Financing for Custom Computer Programming ServicesWith these commercial loans for custom computer programming services, the SBA guarantees the lender that the loan will be repaid. This custom computer programming services loan for $50,000 was given to a North Dakota entrepreneur in 2004. This business knew how to go about getting a business bank loan. Based in Bismarck, North Dakota, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Merchants Bank, based in Rugby, North Dakota. SBA Loan Borrower COMPANY TYPE: CUSTOM COMPUTER PROGRAMMING SERVICES SBA Loan Lender MERCHANTS BANK This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with borrowing money. 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. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 541511 - Custom Computer Programming Services Loan Approval Date 11/15/2004 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $42,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower did not indicate that the company promised to use the money to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My 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. This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for 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: SBA 7A Lenders in Rugby, North Dakota
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