Loans for Computer and Computer Peripheral Equipment and Software Wholesalers

With these loans for computer and computer peripheral equipment and software wholesalers, the SBA guarantees the lender that the loan will be repaid. This computer and computer peripheral equipment and software wholesalers loan for $200,000 was given to a New Jersey entrepreneur in 2004.

Getting a small business loan in Edison, New Jersey was important for this company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Woori America Bank, operating out of Fort Lee, New Jersey. Here are the details on this New Jersey small business loan.

SBA Loan Borrower

COMPANY TYPE: COMPUTERS, PERIPHERALS, AND SOFTWARE
EDISON, NJ 08837

SBA Loan Lender

WOORI AMERICA BANK
183 MAIN ST
FORT LEE, NJ 07024

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide commercial loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5045 - Computers, Peripherals, and Software

NAICS Code

421430 - Computer and Computer Peripheral Equipment and Software Wholesalers

Loan Approval Date

9/2/2004

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $180,000.

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 3 employees. This SBA loan request did not indicate that the company promised to use the funding 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.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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 - Getting Venture Capital

Best Fort Lee, New Jersey Banks for Small Business

Getting an SBA Loan in New Jersey