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November 15, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Hastings, Business Loans > Merchants Bank Hastings Business Loans > Computer Renassisance Loan | ||||
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SBA Franchise Lenders in Minnesota
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Merchants Bank Provides SBA Loan to Buy Computer Renaissance FranchiseBorrowing money to purchase a Computer Renaissance franchise? Merchants Bank has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Computer Renaissance franchise is doable. In 2003, Merchants Bank issued an SBA franchise loan to an entrepreneur in Maplewood, Minnesota. Because Computer Renaissance was registered with the SBA's registry of franchises, this Minnesota small business loan was issued on an expedited basis. SBA Loan Borrower COMPUTER RENASSISANCE SBA Loan Lender MERCHANTS BANK This lender issued this particular small business 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 5045 - Computers, Peripherals, and Software NAICS Code 443120 - Computer and Software Stores Loan Approval Date 6/10/2003 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Computer Renaissance franchise. At the time of the loan, the company had 7 employees. The SBA loan application for the borrower did not indicate that the company 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. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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: Best Banks in Hastings, Minnesota Getting an SBA Loan in Minnesota
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