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April 27, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Norfolk, Business Loans > Heritage Bank Norfolk Business Loans > Computer Systems Design Services Loan | ||||
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Virginia Small Business Funding
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Raising Money for Computer Systems Design ServicesWith these business loans for computer systems design services, the SBA guarantees the lender that the loan will be repaid. This computer systems design services loan for $100,000 was given to a Virginia entrepreneur in 2007. This business received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Heritage Bank, out of Norfolk, Virginia. The loan was granted and they received $100,000 to help grow their Virginia Beach, Virginia business. SBA Loan Borrower COMPANY TYPE: COMPUTER SYSTEMS DESIGN SERVICES SBA Loan Lender HERITAGE BANK 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 541512 - Computer Systems Design Services Loan Approval Date 3/15/2007 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. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 5 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. 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 $100,000 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: Obtaining Funding - How to Borrow Money SBA 7A Banks for Norfolk, Virginia Loans Where to Get an SBA Loan Virginia
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