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May 11, 2024 |
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| Home > Small Business Lenders by State > Nebraska Business Loan Sources > Grand Island, Business Loans > Five Points Bank Grand Island Business Loans > Computer Programming Services Loan | ||||
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Business Loans for Grand Island Entrepreneurs
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Financing for Custom Computer Programming ServicesLooking for loans for custom computer programming services? Try the SBA. This $250,000 custom computer programming services loan was issued by a Nebraska bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Grand Island, Nebraska was able to borrow $250,000 from Five Points Bank. The SBA made the loan possible by guaranteeing $187,500 of this Nebraska small business loan. SBA Loan Borrower COMPANY TYPE: COMPUTER PROGRAMMING SERVICES SBA Loan Lender FIVE POINTS BANK The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide small business loans to to entrepreneurs who might have trouble getting a conventional bank loan. 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 10/24/2006 Loan Approval Gross Amount $250,000 Loan Approval from the SBA Of the total $250,000 loan amount, the SBA guaranteed $187,500. 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 13 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! Every year, the SBA guarantees over $10 billion for loans just like this one. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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 Participating Banks in Grand Island, Nebraska
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