Indiana Entrepreneur Secures Financing to Buy Computer Renaissance Franchise

Need money to purchase a Computer Renaissance franchise? Old National Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Computer Renaissance franchise shouldn't be overly burdensome. In 2004, Old National Bank issued an SBA franchise loan to an entrepreneur in Muncie, Indiana. Because Computer Renaissance was registered with the SBA's registry of franchises, this Indiana small business loan was issued on an expedited basis.

SBA Loan Borrower

COMPUTER RENAISSANCE
MUNCIE, IN 47304

SBA Loan Lender

OLD NATIONAL BANK
110 E MAIN
MUNCIE, IN 47305

This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7378 - Computer Maintenance and Repair

NAICS Code

811212 - Computer and Office Machine Repair and Maintenance

Loan Approval Date

3/16/2004

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Computer Renaissance franchise. At the time of the loan, the company had 3 employees. The loan application did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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.

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