Loan Census Banking News and Information
February 2, 2023  
 
 
  Business Loan Information  
 

Citibank SBA Loans

 

 
Loan Census SBA Loan Info

Small Business Loans for Data Processing Services

With these small business loans for data processing services, the SBA guarantees the lender that the loan will be repaid. This data processing services loan for $50,000 was given to a Texas entrepreneur in 2003.

Getting a small business loan in Fort Worth, Texas was important for this growing firm back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Citibank, operating out of Abilene, Texas. Here are the details on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: DATA PROCESSING SERVICES
FORT WORTH, TX 76102

SBA Loan Lender

CITIBANK
3409 S 14TH ST
ABILENE, TX 79605

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

514210 - Data Processing Services

Loan Approval Date

1/21/2003

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 4 employees. The loan application did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

This SBA loan was for $50,000. How would you spend $50,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

The Art of Bootstrapping

SBA 7A Banks in Abilene, Texas

Texas SBA Bank Lenders