Borrowing Money for Computer and Computer Peripheral Equipment and Software Wholesalers

With these small business loans for computer and computer peripheral equipment and software wholesalers, the SBA guarantees the lender that the loan will be repaid. This computer and computer peripheral equipment and software wholesalers loan for $590,000 was given to a Minnesota entrepreneur in 2001.

This small firm knew how to go about getting a business bank loan. Based in Plymouth, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Associated Bank, based in Minneapolis, Minnesota.

SBA Loan Borrower

COMPANY TYPE: COMPUTER AND COMPUTER PERIPHERAL EQUIPMENT AND SOFTWARE WHOLESALERS
PLYMOUTH, MN 55441

SBA Loan Lender

ASSOCIATED BANK
740 MARQUETTE AVE
MINNEAPOLIS, MN 55402

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

421430 - Computer and Computer Peripheral Equipment and Software Wholesalers

Loan Approval Date

5/8/2001

Loan Approval Gross Amount

$590,000

Loan Approval from the SBA

Of the total $590,000 loan amount, the SBA guaranteed $442,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 50 employees. The loan application indicated that the loan would help generate 30 new jobs and retain 50 existing jobs.

Getting an SBA Loan For Your Business

If you want money for new small business in Plymouth MN, you ought to talk with a local Plymouth SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Plymouth businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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