Business Loans for Office Equipment Merchant Wholesalers

With these business loans for office equipment merchant wholesalers, the SBA guarantees the lender that the loan will be repaid. This office equipment merchant wholesalers loan for $195,000 was given to a Minnesota entrepreneur in 2005.

Getting a small business loan in Owatonna, Minnesota was important for this small business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from United Prairie Bank, operating out of Owatonna, Minnesota. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: OFFICE EQUIPMENT MERCHANT WHOLESALERS
OWATONNA, MN 55060

SBA Loan Lender

UNITED PRAIRIE BANK
110 W ROSE ST
OWATONNA, MN 55060

This lender processed this bank loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

423420 - Office Equipment Merchant Wholesalers

Loan Approval Date

3/7/2005

Loan Approval Gross Amount

$195,000

Loan Approval from the SBA

Of the total $195,000 loan amount, the SBA guaranteed $97,500.

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 50 employees. The SBA loan application for the borrower indicated that the loan would help retain 50 existing jobs.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small 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:

Microlending as a Small Business Funding Source

SBA 7A Lenders in Owatonna, Minnesota

Minnesota SBA 7A Lenders