How to Get a Loan for Computer and Software Stores

With these SBA 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 Minnesota entrepreneur in 2003.

Getting a small business loan in Sleepy Eye, Minnesota was important for this small business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from First Security Bank-Sleepy Eye, operating out of Sleepy Eye, Minnesota. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: COMPUTERS, PERIPHERALS, AND SOFTWARE
SLEEPY EYE, MN 56085

SBA Loan Lender

FIRST SECURITY BANK-SLEEPY EYE
100 E MAIN
SLEEPY EYE, MN 56085

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.

SIC Code

5045 - Computers, Peripherals, and Software

NAICS Code

443120 - Computer and Software Stores

Loan Approval Date

11/20/2003

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 an existing business. This loan was not for a franchise. At the time of the loan, the company had 11 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

We can help you find the best banks for small businesses in Sleepy Eye or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Small Business Credit Cards

Best Banks in Sleepy Eye, Minnesota

Minnesota SBA Bank Lenders