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May 5, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > San Jose, Business Loans > Wells Fargo Bank San Jose Business Loans > Men's Clothing Stores Loan | ||||
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How to Get a Business Loan from Wells Fargo Bank
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SBA Loan from Wells Fargo Bank Helps Men's Clothing Stores CompanyWells Fargo Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Iowa entrepreneur who tapped into the power of SBA loans. This growing company knew how to go about getting a business bank loan. Based in Ames, Iowa, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was Wells Fargo Bank, based in San Jose, California. SBA Loan Borrower COMPANY TYPE: MEN'S CLOTHING STORES SBA Loan Lender WELLS FARGO BANK This lender issued this particular loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 448110 - Men's Clothing Stores Loan Approval Date 6/18/2004 Loan Approval Gross Amount $97,900 Loan Approval from the SBA Of the total $97,900 loan amount, the SBA guaranteed $83,215. 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 3 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Wells Fargo Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: The Friends and Family Network SBA Banks in San Jose, California
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