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May 9, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Owosso, Business Loans > Chemical Bank Owosso Business Loans > Computer Programming Services Loan | ||||
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How to Get SBA Loans in Lansing, Michigan
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Bank Loans for Custom Computer Programming ServicesLooking for bank loans for custom computer programming services? The SBA may be the answer. This $57,500 custom computer programming services loan was issued by a Michigan bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Lansing, Michigan was able to borrow $57,500 from Chemical Bank. The SBA made the loan possible by guaranteeing $48,875 of this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: COMPUTER PROGRAMMING SERVICES SBA Loan Lender CHEMICAL BANK This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. 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 1/8/2001 Loan Approval Gross Amount $57,500 Loan Approval from the SBA Of the total $57,500 loan amount, the SBA guaranteed $48,875. 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 15 employees. The SBA loan documents did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business Every year, the SBA guarantees over $10 billion for loans just like this one. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Chemical Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Chemical Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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 7A Banks for Owosso, Michigan Loans
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