Minnesota Entrepreneur Secures Financing to Buy New Horizon Computer Learning Center Franchise

Need money to invest in a New Horizon Computer Learning Center franchise? Frontier Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a New Horizon Computer Learning Center franchise may simply require a phone call to a local SBA banker. In 2007, Frontier Bank issued an SBA franchise loan to an entrepreneur in Mendota Heights, Minnesota. Because New Horizon Computer Learning Center was registered with the SBA's registry of franchises, this Minnesota small business loan was issued on an expedited basis.

SBA Loan Borrower

ITLC ACQUISITION INC
MENDOTA HEIGHTS, MN 55118

SBA Loan Lender

FRONTIER BANK
301 1ST AVE
ROCK RAPIDS, IA 51246

This lender processed this business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

611420 - Computer Training

Loan Approval Date

1/30/2007

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $75,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a New Horizon Computer Learning Center franchise. At the time of the loan, the company had 10 employees. The SBA loan application for the borrower indicated that the loan would help retain 10 existing jobs.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $150,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

New Horizons Computer Learning Centers, Inc.

Business Credit Evaluation

SBA Approved Banks in Rock Rapids, Iowa

SBA Iowa Banks