Data Processing, Hosting, and Related Services Commercial Loans

With these commercial loans for data processing, hosting, and related services, the SBA guarantees the lender that the loan will be repaid. This data processing, hosting, and related services loan for $141,000 was given to a Minnesota entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in St. Paul, Minnesota was able to borrow $141,000 from Wells Fargo Bank. The SBA made the loan possible by guaranteeing $119,850 of this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: DATA PROCESSING, HOSTING, AND RELATED SERVICES
ST. PAUL, MN 55114

SBA Loan Lender

WELLS FARGO BANK
2329 CENTRAL AVE NE
MINNEAPOLIS, MN 55418

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

518210 - Data Processing, Hosting, and Related Services

Loan Approval Date

6/18/2003

Loan Approval Gross Amount

$141,000

Loan Approval from the SBA

Of the total $141,000 loan amount, the SBA guaranteed $119,850.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 1 existing job.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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