Minneapolis, Minnesota Lender Lends Money to Computer And Computer Peripheral Equipment And Software Wholesalers Company

Thinking about meeting with a Minneapolis, Minnesota bank about an SBA loan? Here's one Minnesota business loan, issued by a Minneapolis bank, that was approved by the SBA.

Applying for an SBA loan with Wells Fargo Bank worked out well for our friends at one local firm in Woodbury, Minnesota. The business was able to get an SBA loan for $50,000. Sweet!

SBA Loan Borrower

COMPANY TYPE: COMPUTER AND COMPUTER PERIPHERAL EQUIPMENT AND SOFTWARE WHOLESALERS
WOODBURY, MN 55125

SBA Loan Lender

WELLS FARGO BANK
2329 CENTRAL AVE NE
MINNEAPOLIS, MN 55418

The lender provided this bank loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

421430 - Computer and Computer Peripheral Equipment and Software Wholesalers

Loan Approval Date

11/15/2002

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

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 only one employee. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans provide smart, affordable business financing for small businesses looking to expand.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Wells Fargo Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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