Getting an SBA Loan for Computer, Peripheral Equipment and Software Merchant Wholesaler

Looking for commercial loans for computer, peripheral equipment and software merchant wholesaler? An SBA loan may be just what you've been looking for. This $50,000 computer, peripheral equipment and software merchant wholesaler loan was issued by a Minnesota bank.

This business knew how to go about getting a business bank loan. Based in North Mankato, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Hometown Bank, based in Redwood Falls, Minnesota.

SBA Loan Borrower

COMPANY TYPE: COMPUTER, PERIPHERAL EQUIPMENT AND SOFTWARE MERCHANT WHOLESALER
NORTH MANKATO, MN 56003

SBA Loan Lender

HOMETOWN BANK
301 S WASHINGTON ST
REDWOOD FALLS, MN 56283

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

423430 - Computer, Peripheral Equipment and Software Merchant Wholesaler

Loan Approval Date

4/30/2004

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 1 existing job.

Great, But How Can I Get an SBA Loan for My Business?

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 $50,000 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:

Business Credit Evaluation

SBA Participating Banks in Redwood Falls, Minnesota

Find an SBA Lender in Minnesota