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May 4, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > San Jose, Business Loans > Wells Fargo Bank San Jose Business Loans > Computer, Peripheral Equipment And Software Merchant Wholesaler Loan | ||||
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We Needed an SBA 7A Loan in Escondido, California and We Got One!
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Loans for Computer, Peripheral Equipment and Software Merchant WholesalerLooking for loans for computer, peripheral equipment and software merchant wholesaler? The SBA may be the answer. This $30,000 computer, peripheral equipment and software merchant wholesaler loan was issued by a California bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Escondido, California was able to borrow $30,000 from Wells Fargo Bank. The SBA made the loan possible by guaranteeing $15,000 of this California small business loan. SBA Loan Borrower COMPANY TYPE: COMPUTER, PERIPHERAL EQUIPMENT AND SOFTWARE MERCHANT WHOLESALER SBA Loan Lender WELLS FARGO BANK The lender provided this SBA small business 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 423430 - Computer, Peripheral Equipment and Software Merchant Wholesaler Loan Approval Date 10/15/2004 Loan Approval Gross Amount $30,000 Loan Approval from the SBA Of the total $30,000 loan amount, the SBA guaranteed $15,000. 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 12 employees. The SBA loan documents indicated that the loan would help generate 4 new jobs and retain 16 existing jobs. Great, But How Can I Get an SBA Loan for My Business? If you are wondering how to raise money for a company in Escondido CA, you ought to talk with a local Escondido SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Escondido businesses. 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: SBA Banks in San Jose, California
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