 |
 |
May 7, 2024 |
|
|
|
|
||
| Home > Small Business Lenders by State > Illinois Business Loan Sources > Barrington, Business Loans > Harris National Association Barrington Business Loans > Computer Related Services Loan | ||||
 |
||||
Advice for Business Owners On Getting a Loan
|
||||
 |
Financing for Custom Computer Programming ServicesLooking for commercial loans for custom computer programming services? An SBA loan may be just what you've been looking for. This $80,000 custom computer programming services loan was issued by an Illinois bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Hoffman Estates, Illinois was able to borrow $80,000 from Harris National Association. The SBA made the loan possible by guaranteeing $68,000 of this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: COMPUTER RELATED SERVICES SBA Loan Lender HARRIS NATIONAL ASSOCIATION This lender issued this particular commercial loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7379 - Computer Related Services NAICS Code 541511 - Custom Computer Programming Services Loan Approval Date 3/10/2003 Loan Approval Gross Amount $80,000 Loan Approval from the SBA Of the total $80,000 loan amount, the SBA guaranteed $68,000. 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 7 employees. The loan application did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $80,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: Realistic Debt Financing Options SBA Approved Banks in Barrington, Illinois
|
|
||
|
||||
|
|
||||