Getting an SBA Loan for Computer and Software Stores
Looking for SBA loans for computer and software stores? The SBA may be the answer. This $114,000 computer and software stores loan was issued by a Missouri bank.
This business knew how to go about getting a business bank loan. Based in Springfield, Missouri, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Bancorpsouth Bank, based in Springfield, Missouri.
SBA Loan Borrower
COMPANY TYPE: COMPUTER AND COMPUTER SOFTWARE STORES
SPRINGFIELD, MO 65804
SBA Loan Lender
BANCORPSOUTH BANK
3939 S FREMONT
SPRINGFIELD, MO 65804
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
5734 - Computer and Computer Software Stores
NAICS Code
443120 - Computer and Software Stores
Loan Approval Date
4/8/2002
Loan Approval Gross Amount
$114,000
Loan Approval from the SBA
Of the total $114,000 loan amount, the SBA guaranteed $96,900.
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 9 employees. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.
Getting an SBA Loan For Your Business
SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.
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.
Related Links:
Small Business Credit Cards
Banks in Springfield, Missouri
Where to Get an SBA Loan Missouri