Borrowing Money for Computer Related Services

With these loans for computer related services, the SBA guarantees the lender that the loan will be repaid. This computer related services loan for $100,000 was given to a Maryland entrepreneur in 2007.

This small firm knew how to go about getting a business bank loan. Based in Halethorpe (census Name Arbutu, Maryland, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Pnc Bank, National Association, based in Baltimore, Maryland.

SBA Loan Borrower

COMPANY TYPE: COMPUTER RELATED SERVICES
HALETHORPE (CENSUS NAME ARBUTU, MD 21227

SBA Loan Lender

PNC BANK, NATIONAL ASSOCIATION
TWO HOPKINS PLZ
BALTIMORE, MD 21201

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

541519 - Computer Related Services

Loan Approval Date

4/30/2007

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

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 33 employees. The SBA loan documents indicated that the loan would help generate 8 new jobs and retain 33 existing jobs.

Next Steps for Getting an SBA Loan

If you need money to start a small business or need money for an existing business, an SBA loan can be a great funding source

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Pnc Bank, National Association so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Business Incubators

SBA 7A Banks for Baltimore, Maryland Loans

Where to Get an SBA Loan Maryland