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May 3, 2024 |
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| Home > Small Business Lenders by State > Maine Business Loan Sources > Brunswick, Business Loans > Northeast Bank Brunswick Business Loans > Computer Programming Services Loan | ||||
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Good Banks for Portland Businesses
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Custom Computer Programming Services Business LoansLooking for business loans for custom computer programming services? The SBA may be the answer. This $145,000 custom computer programming services loan was issued by a Maine bank. This small business knew how to go about getting a business bank loan. Based in Portland, Maine, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Northeast Bank, based in Brunswick, Maine. SBA Loan Borrower COMPANY TYPE: COMPUTER PROGRAMMING SERVICES SBA Loan Lender NORTHEAST BANK This lender issued this particular bank 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 7371 - Computer Programming Services NAICS Code 541511 - Custom Computer Programming Services Loan Approval Date 3/29/2002 Loan Approval Gross Amount $145,000 Loan Approval from the SBA Of the total $145,000 loan amount, the SBA guaranteed $123,250. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The SBA loan documents did not indicate that the business planned to use the money to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. 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 Northeast 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: Obtaining Funding - How to Borrow Money Where to Get an SBA Loan in Brunswick, Maine
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