Business Loans for Computer and Software Stores

With these business loans for computer and software stores, the SBA guarantees the lender that the loan will be repaid. This computer and software stores loan for $178,000 was given to a North Dakota entrepreneur in 2005.

This small business knew how to go about getting a business bank loan. Based in Minot, North Dakota, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Town & Country Cu, based in Minot, North Dakota.

SBA Loan Borrower

COMPANY TYPE: COMPUTER AND SOFTWARE STORES
MINOT, ND 58701

SBA Loan Lender

TOWN & COUNTRY CU
615 S BROADWAY
MINOT, ND 58702

The lender provided this commercial loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

443120 - Computer and Software Stores

Loan Approval Date

2/17/2005

Loan Approval Gross Amount

$178,000

Loan Approval from the SBA

Of the total $178,000 loan amount, the SBA guaranteed $89,000.

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 only one employee. This SBA loan request indicated that the funding would help create 6 new jobs.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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:

Business Credit Evaluation

Good Banks for Small Business in Minot, North Dakota

SBA Lenders in North Dakota