Borrowing Money for Computer and Computer Peripheral Equipment and Software Wholesalers

With these 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 $125,000 was given to a Florida entrepreneur in 2001.

Color-Ware, Inc. received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Eastwood Bank, out of Winona, Minnesota. The loan was granted and they received $125,000 to help grow their Miami, Florida business.

SBA Loan Borrower

COLOR-WARE, INC.
1480004 SW 136TH STREET
MIAMI, FL 33186

SBA Loan Lender

EASTWOOD BANK
225 LAFAYETTE ST
WINONA, MN 55987

This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5045 - Computers and Computer Peripheral Equipment and So

NAICS Code

421430 - Computer and Computer Peripheral Equipment and Software Wholesalers

Loan Approval Date

12/19/2001

Loan Approval Gross Amount

$125,000

Loan Approval from the SBA

Of the total $125,000 loan amount, the SBA guaranteed $106,250.

More Information on This SBA Loan

The borrower, Color-Ware, Inc., borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 25 employees. The SBA loan application for the borrower did not indicate that the company promised to use the funding to hire new employees or retain any existing employees.

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

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

If Color-Ware, Inc. can get an SBA loan, there's no reason you can't get an SBA loan too. The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's SBA loan database.

Related Links:

Business Credit Evaluation

Small Bank Loans in Winona, Minnesota

Minnesota SBA 7A Lenders

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