Borrowing Money for Computer and Software Stores

With these loans for computer and software stores, the SBA guarantees the lender that the loan will be repaid. This computer and software stores loan for $50,000 was given to a Texas entrepreneur in 2001.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Odessa, Texas was able to borrow $50,000 from Security State Bank. The SBA made the loan possible by guaranteeing $42,500 of this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: COMPUTER AND SOFTWARE STORES
ODESSA, TX 79762

SBA Loan Lender

SECURITY STATE BANK
110 E 7TH ST
ODESSA, TX 79760

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

443120 - Computer and Software Stores

Loan Approval Date

5/22/2001

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 5 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you are raising money in Odessa TX, you ought to talk with a local Odessa SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Odessa businesses.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

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Getting an SBA Loan in Texas